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TMI Blog2024 (7) TMI 1050X X X X Extracts X X X X X X X X Extracts X X X X ..... Bankruptcy Code, 2016, the AO shall modify the demand payable in conformity with such order and shall thereafter serve on the assessee a notice of demand specifying the sum payable, if any, and such notice of demand shall be deemed to be a notice under section 156 and the provisions of this Act shall apply accordingly. The amended law further provides that where the order referred to in sub-section (1) is modified by the National Company Law Appellate Tribunal or the Supreme Court, as the case may be, the modified notice of demand as referred to in sub-section (1), issued by the Assessing Officer shall be revised accordingly. Accordingly, we direct the assessing officer to take necessary action under section 156A. Since the grounds of appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessee has challenged the orders u/s 250 passed by NFAC, Delhi. 2.0 Through the preferred adjudication orders, the first appellate authority had dismissed the appeal of the assessee on the premise that a moratorium was existing in all the above appeals on account of initiation of insolvency resolution proceedings. 3.0 As a common issue involved concerning orders of the Hon ble National Company Law Tribunal, Mumbai Bench dated 09.06.2020 exists in all the aforesaid appeals, the same are adjudicated with this common order. 4.0 In all the appeals, the appellant has raised twin set of grounds of appeal firstly that no-demand / proceedings pertaining to pre-CIRP periods survive after the passage of order of Hon ble National Company Law Tribu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion to the period prior to the Approval Date and not thereafter. From the approval date, the corporate applicants now controlled by the RA shall be responsible for their own destinies arising out of noncompliance for the period after such approval. 6.0 Reliance was also placed on Para 9.1.17 and 9.1.18 of the order referred Supra. The Ld.AR also invited our attention to section 156A which authorizes the AO to modify the demand order issued under Section 156 in conformity with the order of the adjudicating authority, reducing the demand of tax, interest, penalty, fine, or any other sum. 7.0 The Ld.DR did not contest the arguments of the Ld. AR and agreed for action to be taken by the AO as prescribed in the section 156A. 8.0 We have heard t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5 of the Insolvency and Bankruptcy Code, 2016, the Assessing Officer shall modify the demand payable in conformity with such order and shall thereafter serve on the assessee a notice of demand specifying the sum payable, if any, and such notice of demand shall be deemed to be a notice under section 156 and the provisions of this Act shall apply accordingly. The amended law further provides that where the order referred to in sub-section (1) is modified by the National Company Law Appellate Tribunal or the Supreme Court, as the case may be, the modified notice of demand as referred to in sub-section (1), issued by the Assessing Officer shall be revised accordingly. Accordingly, we direct the assessing officer to take necessary action under s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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