https://www.taxtmi.com/caselaws?id=426235 The NCLT concluded that the Income Tax Department's adjustment of the refund during the moratorium period was unjustified. The Tribunal directed the Department to release the refund of Rs. 43,49,040/- with interest to the applicant. The judgment reaffirmed that tax dues are operational debts and fall within the jurisdiction of the NCLT under the IBC, 2016. The appeal was allowed and disposed of accordingly. en-us Thu, 04 Aug 2022 00:00:00 +0530 Wed, 10 Aug 2022 09:30:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426235 The NCLT concluded that the Income Tax Department's adjustment of the refund during the moratorium period was unjustified. The Tribunal directed the Department to release the refund of Rs. 43,49,040/- with interest to the applicant. The judgment reaffirmed that tax dues are operational debts and fall within the jurisdiction of the NCLT under the IBC, 2016. The appeal was allowed and disposed of accordingly. Case-Laws Insolvency and Bankruptcy Thu, 04 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426235