Change in shareholding under insolvency resolution excluded from tax continuity rules after hearing to tax authorities. The amendment excludes application of section 79's shareholding continuity rule where a change in shareholding in the previous year occurs pursuant to a resolution plan approved under the Insolvency and Bankruptcy Code, 2016, provided the jurisdictional Principal Commissioner or Commissioner is afforded a reasonable opportunity of being heard.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Change in shareholding under insolvency resolution excluded from tax continuity rules after hearing to tax authorities.
The amendment excludes application of section 79's shareholding continuity rule where a change in shareholding in the previous year occurs pursuant to a resolution plan approved under the Insolvency and Bankruptcy Code, 2016, provided the jurisdictional Principal Commissioner or Commissioner is afforded a reasonable opportunity of being heard.
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