Adjudicating authority retains the insolvency law definition for specified purposes under the old and new income tax provisions.

For the purposes of the relevant subsection of section 206 of the Income Tax Act, 2025, Adjudicating Authority has the meaning assigned under section 5(1) of the Insolvency and Bankruptcy Code, 2016. For the purposes of the relevant clause in the Explanation to section 115JB of the Income Tax Act, 1961, the same term has that meaning. Both provisions therefore use the definition from the Insolvency and Bankruptcy Code for their respective purposes.

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