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.
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.
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.
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