Recovery of outstanding tax dues - Validity of attachment orders ...

Income Tax Department's Claim Validated; New Promoter to Pay Outstanding Tax Dues as per Resolution Plan.

February 9, 2023

Case Laws Insolvency and Bankruptcy AT

Recovery of outstanding tax dues - Validity of attachment orders issued by the Income Tax Department - since the Resolution Professional intimated the Appellants (IT Department) that the demand after finalization of appeal by CIT(A) would be payable by the new promoter, such written intimation of the Resolution Professional is to be read with the new resolution plan and the demand of the Appellants is duly considered and the Appellants have a right to lay its claim before the new promoter of the Respondent Company. - AT

View Source

← Previous Next →

Recovery of outstanding tax dues - Validity of attachment orders ...

Income Tax Department's Claim Validated; New Promoter to Pay Outstanding Tax Dues as per Resolution Plan.

February 9, 2023

Case Laws Insolvency and Bankruptcy AT

You may also like:

Priority of secured creditors under the SARFAESI Act over claims by the Income Tax Department. The respondent mortgaged the property to the petitioner in 2013-14, prior...

Defaulter under the SVLDRS scheme or not - failure to pay the amount mentioned in SVLDRS-3 in time - Seeking adjustment of refund under Income Tax with amount payable...

The assessee company is eligible to claim Foreign Tax Credit (FTC) against its Minimum Alternate Tax (MAT) liability u/s 115JB of the Income Tax Act for taxes paid in...

The court held that the petitioner-bank's registered security interest with CERSAI, dated 17th March 2017, has priority over the dues claimed by the GST and Sales Tax...

Eligibility to make adjustment of excess service tax paid against future service tax liability - Claim of Excess service tax paid due to issuance of revised invoice -...

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...

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....

The Department initiated the case based on income tax documents, which were public documents, and the presumption is on their truthfulness. The difference in value based...

Income assessed in hands of Appellant as Representative Assessee. No credit for prepaid taxes availed by beneficiaries. JCIT(A) directed AO to verify claim of prepaid...

Refund claim of service tax paid - classification of services - Claiming a refund of the amount paid as tax as per their understanding of law cannot be disputed now -...

The assessee failed to file the original return of income, and the Assessing Officer initiated penalty proceedings for underreporting income. The assessee's authorized...

Due date for filing of Income Tax Returns - benefit of carry forward of loss - RBI permission letter mandating the assessee to get his accounts audited - Extension of...

Secured creditor has priority over Sales Tax Department for recovering dues from borrower/entity. Section 26E of SARFAESI Act and Section 38 of 2002 Act considered....

The appellant trust claimed to be formed for public charitable activities and registered under the Rajasthan Public Trust Act 1959, regularly filing its income tax...

The provisions of the IBC 2016 would prevail over the Income Tax Act 1961. Income Tax authorities have limited jurisdiction to assess/determine the quantum of Income Tax...

Quick Updates: