9911796707
TMI Blog2024 (8) TMI 185X X X X Extracts X X X X X X X X Extracts X X X X ..... held by this Court in case of Surya Exim Ltd. [ 2024 (4) TMI 937 - GUJARAT HIGH COURT ] when the NCLT has approved the application filed under Section 13 (6) of IBC, 2016 and resolution plan submitted by the applicant was approved, the respondent-Assessing Officer would not have any jurisdiction to re-open the assessment with regard to the Assessment Year 2019-20. The impugned notice u/s 148 as well as the order passed u/s 148A (d) of the Act are not tenable and are accordingly, quashed and set aside - Decided in favour of assessee. - HONOURABLE MR. JUSTICE BHARGAV D. KARIA AND HONOURABLE MR. JUSTICE NIRAL R. MEHTA Appearance: For the Petitioner(s) No. 1 : Mr SN Divatia (1378) For the Respondent(s) No. 1,2 : Mr Nikunt K Raval (5558) ORAL ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... titioner-Company written off bank loans, statutory dues waived off by the NCLT. 3.3. It also appears from the record that an order under Section 127 (2) of the Act dated 11.01.2023 was passed by the Principal Commissioner of Income Tax, Vadodara-I transferring the case of the petitioner from Vadodara to Central Circle-1(1) Ahmedabad i.e. before the respondent No.2 with immediate effect. However, in spite of the above facts, the respondent No.1-Assessing Officer at Vadodara issued the notice under Section 148A (b) of the Act on 14.02.2023 calling upon the petitioner to show cause as to why the notice under Section 148 of the Act should not be issued for re-opening of the assessment for Assessment Year 2019-20. 3.4. As per the notice under Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rity could not have assumed the jurisdiction to re-open the assessment as the same would have achieved the finality. 4.3. Learned advocate Mr. S.N. Divatia invited the attention of the Court to the following observations made by the Company Law in the final order dated 22.10.2019 : It is further clarified in the Resolution Plan that all dues and any amount payable under the Companies Act 2013/1956, Income Tax Act, VAT etc. including taxes, duties, additional fees, penalties, interest, fines, cases, unpaid taxes, unpaid Tax Deducted at Source/tax collected at Source, which is not admitted or contingent, whether part of the above claim or not, pertaining to any period prior to the CIRP commencement date whether part of due diligence finding o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r hand, learned advocate Mr. Rudram Trivedi for the respondent-authority submitted that the petitioner could not filed the reply to the notice under Section 148(b) of the Act and as such, the respondent No.1 had no option but to pass the order under Section 148A (d) of the Act. It was also submitted that the petitioner did not file the return for Assessment Year 2019-20 and therefore, there is clear case of escapement of income. 6. Having heard the learned advocates for the respective parties, it is apparent that after the order of transfer of the case of the petitioner passed on 11.01.2023 under Section 127 (2) of the Act, the respondent No.1-Assessing Officer has no jurisdiction to issue the notice for re-opening for the Assessment Year 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ill be binding on the corporate debtor and its employees, members, creditors, including the Central Government, any State Government or any local authority, guarantors and other stakeholders. On the date of approval of resolution plan by the adjudicating authority, all such claims which are not a part of resolution plan, shall stand extinguished and no person will be entitled to initiate or continue any proceedings in respect of to a claim, which is not part of the resolution plan. 102.2 The 2019 Amendment to section 31 of the I B Code is clarificatory and declaratory in nature and therefore will be effective from the date on which the I B Code has come into effect. 102.3 Consequently, all the dues including the statutory dues owed to the C ..... X X X X Extracts X X X X X X X X Extracts X X X X
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