Faceless assessment notice must cover specific prejudicial variations; unexplained final additions without notice breach section 144B and natural just...
After approval of the corporate insolvency resolution plan by the NCLT, an income-tax assessment founded on a section 148 notice issued only after that approval was impermissible. Applying the principle in Ghanashyam Mishra, the HC treated prior claims as extinguished once the resolution plan was approved, so a post-approval tax demand could not be sustained. The impugned assessment order was therefore unsustainable and was set aside.
After approval of the corporate insolvency resolution plan by the NCLT, an income-tax assessment founded on a section 148 notice issued only after that approval was impermissible. Applying the principle in Ghanashyam Mishra, the HC treated prior claims as extinguished once the resolution plan was approved, so a post-approval tax demand could not be sustained. The impugned assessment order was therefore unsustainable and was set aside.
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