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

Case Laws Insolvency and Bankruptcy

January 25, 2022

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 ...

Case Laws Insolvency and Bankruptcy

January 25, 2022

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...

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...

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...

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...

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...

Rejection of approval Plan - CIRP - One of the reasons given by the Adjudicating Authority for rejection is that the claim of Income Tax Department of dues to be paid...

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

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...

The High Court examined the issue of liability to clear statutory dues post-insolvency proceedings under the Insolvency and Bankruptcy Code 2016. The resolution plan...

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...

Demand of KGST when the resolution plan was approved - Jurisdiction and applicability of the Insolvency and Bankruptcy Code (IBC) over statutory dues. The court...

Validity of reopening of assessment - notice u/s 148 against petitioner company after the approval of the resolution plan for a period prior to closing - liability of...

Approval of Resolution Plan - Whether the treatment of Income Tax dues in the Resolution Plan where they have been treated as Operational Creditor and offered only Rs....

Approval of Resolution Plan - Fresh claim based on Foreign Judgement - The Tribunal (NCLAT) in a crystalline manner pointed out that all such ‘claims’ which were not a...

Approval of Resolution Plan - provision for the payment of Provident Fund dues not made - After approval of the Resolution Plan under Section 31, the claims as provided...

Quick Updates: