https://www.taxtmi.com/caselaws?id=418587 The Tribunal affirmed the decision of the Adjudicating Authority, ruling that the National Company Law Tribunal lacked jurisdiction to direct the Income Tax Department to provide refunds. It was held that the adjustment of refunds against outstanding tax demands during liquidation did not violate the Insolvency and Bankruptcy Code's provisions. The Appellant's argument that the refund was part of the Liquidation Estate and should not be adjusted was rejected. The Tribunal dismissed the Appeal and directed the Appellant to seek adjudication from the Income Tax Department. en-us Thu, 17 Feb 2022 00:00:00 +0530 Mon, 21 Feb 2022 08:17:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418587 The Tribunal affirmed the decision of the Adjudicating Authority, ruling that the National Company Law Tribunal lacked jurisdiction to direct the Income Tax Department to provide refunds. It was held that the adjustment of refunds against outstanding tax demands during liquidation did not violate the Insolvency and Bankruptcy Code's provisions. The Appellant's argument that the refund was part of the Liquidation Estate and should not be adjusted was rejected. The Tribunal dismissed the Appeal and directed the Appellant to seek adjudication from the Income Tax Department. Case-Laws Insolvency and Bankruptcy Thu, 17 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418587