Fresh demand of income tax after the Approval of Resolution Plan ...

Income Tax Demand Challenged Post-Resolution Plan Approval; Assessment Order u/s 143(3) Disputed Due to Claim Extinguishment.

January 25, 2022

Case Laws Insolvency and Bankruptcy HC

Fresh demand of income tax after the Approval of Resolution Plan - Demand of Income Tax Dues after completion of scrutiny process - From the tone and tenor of the impugned notices what is evident is that respondents are seeking to pass assessment order under Section 143 (3) of the Act since the case of petitioner No.1 was selected for limited scrutiny under CASS. However, the period of the assessment order would be a period covered by the resolution plan - the claim of the Income Tax Department which is outside the resolution plan would stand extinguished. - HC

View Source

← Previous Next →

Fresh demand of income tax after the Approval of Resolution Plan ...

Income Tax Demand Challenged Post-Resolution Plan Approval; Assessment Order u/s 143(3) Disputed Due to Claim Extinguishment.

January 25, 2022

Case Laws Insolvency and Bankruptcy HC

You may also like:

A resolution plan was approved for the petitioner on 26.03.2021 under the Insolvency and Bankruptcy Code (IBC). The Municipal Corporation of Delhi (MCD) demanded...

HC ruled that ex-parte tax assessment against a corporate debtor post-CIRP resolution plan approval is impermissible. The court held that once the NCLT approves a...

The Appellate Tribunal dismissed the appeal, holding that the appellant's claim for outstanding income tax demands against the corporate debtor could not be admitted...

SC adjudicated a dispute concerning the executability of an arbitral award post-corporate insolvency resolution plan. The Court held that upon NCLT's approval of the...

The NCLAT dismissed the appeal challenging the approval of the resolution plan by the Committee of Creditors (CoC) and the Adjudicating Authority. The key findings were:...

Once the resolution plan is approved under the Insolvency and Bankruptcy Code, any outstanding claims, including those under the Gujarat Value Added Tax Act for...

Entitlement of Appellant(s)/ Applicant to be given a copy of Resolution Plan or any part of the Resolution Plan in the Appeal - When the right to Appeal on the ground...

The High Court addressed the validity of an assessment against a company that had been dissolved. The court ruled that demand/penalty notices issued post-approval of the...

HC affirmed tax authority's adjustment of AY 2010-11 refund against pre-existing tax liabilities of corporate debtor. Resolution applicant's claim to refund rejected on...

The appeals challenged the approval of Sarda Energy and Minerals Ltd.'s Resolution Plan, alleging material irregularities by the Resolution Professional (RP) and...

The ITAT Chandigarh addressed the validity of income tax proceedings against a dissolved/insolvent company. The tribunal held that under Section 31 of the Insolvency and...

The NCLAT rejected the intervention application filed by the Appellant for approval of the Resolution Plan u/s 30 of the I&B Code. The Appellant was an unsuccessful...

Withdrawal/modification of approved Resolution Plan - Section 31(1) of IBC - The Supreme Court addressed cross-appeals concerning the approval of a resolution plan under...

Once a resolution plan is approved u/s 31(1) of the Insolvency and Bankruptcy Code, 2016 (IBC), only the debts specified in the resolution plan remain payable. This...

Challenge to an interim arbitral award u/s 31(6) of the Arbitration and Conciliation Act, 1996. The key issues are: (1) whether the rejection of an application u/s 16...

Quick Updates: