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of <h1>Tax Authorities Urged to Expedite Arrear Claims in Insolvency Cases Under IBC 2016; Focus on Demands Over Rs. 25 Crores.</h1> The Directorate of Income Tax (Recovery & TDS) instructs Principal Chief Commissioners to ensure that tax arrear claims are promptly lodged in corporate cases undergoing insolvency proceedings under the Insolvency and Bankruptcy Code 2016 (IBC 2016) before the National Company Law Tribunals (NCLTs). Assessing Officers (AOs) are directed to lodge claims with insolvency professionals or liquidators, especially for cases with outstanding demands of Rs. 25 crores or more. The AOs are notified via official email and must regularly check the Insolvency and Bankruptcy Board of India's website for updates. Detailed procedures for lodging claims are provided, along with necessary forms.
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