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
IBC - Highlights / Catch Notes

Home Highlights December 2019 Year 2019 This

Validity of Resolution Plan - CIRP - both the ‘Successful ...

Case Laws     Insolvency and Bankruptcy

December 7, 2019

Validity of Resolution Plan - CIRP - both the ‘Successful Resolution Applicant’ and the Income Tax Department will be guided by the Income Tax Act, 1961 and the Rules and Regulations framed thereunder. If the ‘Successful Resolution Applicant’ is entitled to ‘carry forward losses’ u/s 79 of the Income Tax Act, it may claim such benefit before the appropriate Authority, who will pass appropriate order in accordance with Section 79 of the Income Tax Act, 1961

View Source

 


 

You may also like:

  1. 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...

  2. Approval of Resolution Plan - Dues of Income Tax liability - reliefs from Income Tax liabilities have not been granted as prayed by the Successful Resolution Applicant....

  3. The Committee of Creditors (CoC) does not have jurisdiction to substitute the successful resolution applicant (SRA) with another entity who was not part of the Corporate...

  4. Validity of approval of resolution plan of corporate debtor - the Resolution plan as approved by the CoC using its commercial wisdom and subsequent approval by the...

  5. Delay in implementation of approved Resolution Plan - In the present case, the Approved Resolution Plan has been alleged to be contravened by the Successful Resolution...

  6. Withdrawal of Resolution Plan - resolution plan was approved by Committee of Creditors - the existing insolvency framework in India provides no scope for effecting...

  7. Validity of approved Resolution Plan - appellants have not received any communication from the IRP with regard to the admission/rejection of the claim - Consolidated...

  8. CIRP - Physical inspection of plant and machinery of the Corporate Debtor - After approval of the Resolution Plan, Monitoring Committee under the statutory scheme is to...

  9. Seeking extension of time for implementation of the Plan - the Successful Resolution Applicant has indicated its bona fide, at least prima facie at the present stage, to...

  10. 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...

  11. Income tax proceedings against company dissolved / insolvent - Jurisdiction or authority to reopen or assess income for any period prior to the approval of the...

  12. The National Company Law Appellate Tribunal (NCLAT) held that the Resolution Plan must provide for payment of Provident Fund and Gratuity dues in accordance with Section...

  13. Disqualification of the Successful Resolution Applicant u/s 29A of the Insolvency and Bankruptcy Code, 2016 - It is found that the Resolution Applicant was eligible on...

  14. 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...

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

 

Quick Updates:Latest Updates