Modification of demand notices: tax demands must be revised when insolvency adjudication reduces previously issued demands.

The Assessing Officer must serve a modified notice of demand specifying any sum payable where a prior demand is reduced because of an order by the Adjudicating Authority under the Insolvency and Bankruptcy Code; that modified notice is treated as a notice under the demand-notice provisions and, if the insolvency order is modified on appeal, the modified notice must be revised accordingly.

---

---

---