Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
The HC held that all tax liabilities, assessed or unassessed, under the Income Tax Act, 1961, against the dissolved/insolvent company stand waived and extinguished following approval of the Resolution Plan. Reliance on precedent confirmed that upon such extinguishment, issuance of a notice under Section 148 of the Act is impermissible. Consequently, the impugned Section 148 notice issued post-Resolution Plan approval was quashed. The Court declined to examine the merits of the notice, deeming the issue academic due to the extinguishment of tax liabilities. The petition was allowed accordingly.
The HC held that all tax liabilities, assessed or unassessed, under the Income Tax Act, 1961, against the dissolved/insolvent company stand waived and extinguished following approval of the Resolution Plan. Reliance on precedent confirmed that upon such extinguishment, issuance of a notice under Section 148 of the Act is impermissible. Consequently, the impugned Section 148 notice issued post-Resolution Plan approval was quashed. The Court declined to examine the merits of the notice, deeming the issue academic due to the extinguishment of tax liabilities. The petition was allowed accordingly.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
