Bombay High Court Quashes Reassessment Notice Against Corporate Debtor Under Insolvency Resolution — Income Tax Department Cannot Issue Section 148 Notice After Approval of Resolution Plan Under IBC, 2016. The court held that the moratorium under Section 14 IBC and the binding nature of the resolution plan under Section 31 IBC bar the Income Tax Department from reopening assessments for periods prior to the approval of the plan.
23 Dec 2021The petitioner, Murli Industries Limited, a corporate debtor undergoing insolvency resolution under the Insolvency and Bankruptcy Code, 2016 (IBC), ch...
