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IBC - Highlights / Catch Notes

Home Highlights November 2020 Year 2020 This

CIRP Proceedings - Levy and Recovery of Capital Gains Tax - ...

Insolvency and Bankruptcy

November 6, 2020

CIRP Proceedings - Levy and Recovery of Capital Gains Tax - proceeds received from sale of assets of the corporate debtor - the tax liability arising out of the sale of assets by the liquidator shall be distributed in accordance with the provisions of Section 53 of the Insolvency and Bankruptcy Code, 2016 and the capital gain tax shall not be treated as the liquidation cost - Tri

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