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Income Tax - Highlights / Catch Notes

Home Highlights August 2024 Year 2024 This

Validity of reassessment/income tax proceedings against company ...


Company in liquidation faced income tax reassessment. NCLT appointed liquidator. IBC overrides. ITAT appeals dismissed.

August 13, 2024

Case Laws     Income Tax     AT

Validity of reassessment/income tax proceedings against company in liquidation - IBC's overriding effect - NCLT order appointing official liquidator - Legal principle of company becoming defunct upon liquidator's appointment - Section 178(6) of IBC gives IBC overriding effect - Proceedings before ITAT affected - Appeals dismissed, with liberty to recall order if needed.

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