Condonation of Delay: directoral disputes and pending company proceedings can constitute reasonable cause, allowing a belated return to be treated as ...
Revisionary jurisdiction under section 263 upheld; faceless assessments subject to revision when AO fails requisite enquiries, remitted for fresh asse...
Limited scope of processing under section 143(1): enhancement without show cause is unsustainable; remand for residency, taxation and TDS verification...
IBC prevails over electricity law where pre-CIRP dues were not included in an approved resolution plan, because Sections 31 and 238 bind all stakeholders and give the plan finality on a clean slate basis. The Court held that statutory electricity authorities are also bound by the resolution plan, and pre-resolution claims not filed during CIRP stand extinguished by operation of law. Public announcement of CIRP was sufficient notice; separate individual service was not required. The impugned demand notices were quashed insofar as they sought recovery of pre-CIRP dues, while liberty was reserved to raise fresh demands only for lawful post-resolution liability.
IBC prevails over electricity law where pre-CIRP dues were not included in an approved resolution plan, because Sections 31 and 238 bind all stakeholders and give the plan finality on a clean slate basis. The Court held that statutory electricity authorities are also bound by the resolution plan, and pre-resolution claims not filed during CIRP stand extinguished by operation of law. Public announcement of CIRP was sufficient notice; separate individual service was not required. The impugned demand notices were quashed insofar as they sought recovery of pre-CIRP dues, while liberty was reserved to raise fresh demands only for lawful post-resolution liability.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4819 
Join Channel 
