Customs-controlled cargo movement now includes GDL, subject to EXIM prioritisation, segregation, verification, reconciliation and enforcement safeguar...
GST cross-empowerment remains effective without conditional notification, while duplicate proceedings require established safeguards against overlappi...
Insolvency and BankruptcyJanuary 25, 2022Case LawsHC
Fresh demand of income tax after the Approval of Resolution Plan - Demand of Income Tax Dues after completion of scrutiny process - From the tone and tenor of the impugned notices what is evident is that respondents are seeking to pass assessment order under Section 143 (3) of the Act since the case of petitioner No.1 was selected for limited scrutiny under CASS. However, the period of the assessment order would be a period covered by the resolution plan - the claim of the Income Tax Department which is outside the resolution plan would stand extinguished. - HC
Fresh demand of income tax after the Approval of Resolution Plan - Demand of Income Tax Dues after completion of scrutiny process - From the tone and tenor of the impugned notices what is evident is that respondents are seeking to pass assessment order under Section 143 (3) of the Act since the case of petitioner No.1 was selected for limited scrutiny under CASS. However, the period of the assessment order would be a period covered by the resolution plan - the claim of the Income Tax Department which is outside the resolution plan would stand extinguished. - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
