Recovery of Income tax demand with penalty against company ...

Income tax claims against dissolved companies nullified post-CIRP under IBC if not lodged timely by revenue authorities.

November 5, 2023

Case Laws Income Tax HC

Recovery of Income tax demand with penalty against company dissolved - Conclusion of CIRP proceedings under IBC - Extinguishment of liability as per the approved resolution plan - Since the revenue failed to lodge its claims, the impugned demands raised by the revenue stand automatically extinguished. - HC

View Source

← Previous Next →

Recovery of Income tax demand with penalty against company ...

Income tax claims against dissolved companies nullified post-CIRP under IBC if not lodged timely by revenue authorities.

November 5, 2023

Case Laws Income Tax HC

You may also like:

The High Court held that initiating tax assessment u/s CGST Act against a dissolved company is a jurisdictional defect, not a procedural one. Once a company is dissolved...

This case deals with the extinguishment of demands due to the non-filing of claims by the revenue during the Corporate Insolvency Resolution Process (CIRP) under the...

HC quashed customs duty drawback demand raised against a company post-CIRP acquisition. During CIRP moratorium, respondents failed to lodge drawback claims under Customs...

NCLAT determined that invocation of corporate guarantee after CIRP commencement is impermissible under Section 14 IBC moratorium provisions. The corporate guarantee was...

Assessment against company dissolved/insolvent - This case revolved around an appeal against the order of the CIT(A) by an assessee undergoing Corporate Insolvency...

The case pertains to the extinguishment of claims under the Insolvency and Bankruptcy Code (IBC) against Ruchi Soya Industries Limited, after the acceptance of the...

Validity of Assessment order against the Company dissolved u/s 560(5) of the Companies Act - appellant-company was struck off from the Register of Companies and stood...

NCLAT dismissed an appeal concerning pre-CIRP electricity dues, affirming NCLT's jurisdiction over post-resolution plan disputes under IBC Section 60(5). The Tribunal...

Liquidation of company - It must be borne in mind that the IBC treats the CIRP and Liquidation process as two separate stages and the proof of claim is to be filed...

Recovery of Tax - Company under liquidation under the IBC - Once a company is dissolved it becomes a non-existent party and therefore no action can be brought in its...

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...

Recovery of Service Tax dues, of a Company which is under liquidation applying IBC, 2016 - It is thus beyond the two years preceding the commencement of liquidation date...

Initiation of CIRP - Claim beyond the period of limitation - The Adjudicating Authority, exercising powers under Section 7 or Section 9 of IBC, is not a Debt Collection...

Under the Insolvency and Bankruptcy Code (IBC), the Corporate Insolvency Resolution Process (CIRP) was initiated against the first petitioner-company, and a moratorium...

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...

Quick Updates: