Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights November 2023 Year 2023 This

Recovery of Income tax demand with penalty against company ...

Income Tax

November 5, 2023

Recovery of Income tax demand with penalty against company dissolved - Conclusion of CIRP proceedings under IBC - Extinguishment of liability as per the approved resolution plan - Since the revenue failed to lodge its claims, the impugned demands raised by the revenue stand automatically extinguished. - HC

View Source

 


 

You may also like:

  1. U/s 199 of Income Tax Act 1961 - Recovery Of Demand Against Deductee Assessee - Circular

  2. Validity of Assessment order against the Company dissolved u/s 560(5) of the Companies Act - appellant-company was struck off from the Register of Companies and stood...

  3. Stay of demand - payment of 20% of the outstanding demand - ITAT rejecting its application for stay on the recovery of demand during the pendency of appeal - The Delhi...

  4. Assessment against company dissolved/insolvent - This case revolved around an appeal against the order of the CIT(A) by an assessee undergoing Corporate Insolvency...

  5. Dishonor of Cheque - CIRP - dissolution of company as per resolution plan - where the proceedings under Section 138 of the NI Act had already commenced with the...

  6. Recovery of income tax dues - Assessee Company under CIRP processings - Supremacy of IBC over all other Central and State statutes including Income-tax Act - Apex court...

  7. Validity of reopening of assessment u/s 147 - CIRP proceedings - The proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC) cannot be pressed into service to...

  8. While issuing Draft order u/s 144C, AO issued demand notice with penalty notice - If particular income is taxable under the I.T. Act, it cannot be taxed on the basis of...

  9. Insertion of new section 270A - Penalty for underreporting and misreporting of income. - tax payable on under-reported income shall be calculated as if such...

  10. Doctrine of constitutional priority - Supremecy of attachment passed by the Tax Recovery Officer / Income Tax Department or to the mortgage created in favour of the...

  11. Recovery of Tax - Company under liquidation under the IBC - Once a company is dissolved it becomes a non-existent party and therefore no action can be brought in its...

  12. Levy of Service Tax - leasing of the land of Kandla Port Trust - The show cause notice was issued only for demand of interest and penalty and there is no demand of...

  13. Restoration of name of Company - Aggrieved person is Income Tax Department - The instant application would not lie under section 252(3) of the Companies Act, 2013;...

  14. Lesser penalties for One Person Companies or small companies - lesser penalties (not be more than one-half) for one person companies and small companies - Section 446B...

  15. Penalty proceedings u/s 270A - Applicable rate of penalty - The Appellate Tribunal noted that while the penalty notice cited under-reporting of income, the AO imposed...

 

Quick Updates:Latest Updates