https://www.taxtmi.com/caselaws?id=451302 HC held that a notice under s.148 read with s.147 issued to the company after approval of a resolution plan, for a period prior to the closing date, is invalid. The court found s.148/s.147 cannot be used to collect third-party evidence or to pursue assessments against the corporate debtor post-resolution, noting s.133(6) and the Code provide appropriate mechanisms. Once the resolution plan attains finality the clean-slate principle protects the new management and the company; the approved plan is binding on the Central/State Governments, rendering the reassessment notice bad in law. en-us Wed, 20 Mar 2024 00:00:00 +0530 Tue, 09 Sep 2025 17:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=451302 HC held that a notice under s.148 read with s.147 issued to the company after approval of a resolution plan, for a period prior to the closing date, is invalid. The court found s.148/s.147 cannot be used to collect third-party evidence or to pursue assessments against the corporate debtor post-resolution, noting s.133(6) and the Code provide appropriate mechanisms. Once the resolution plan attains finality the clean-slate principle protects the new management and the company; the approved plan is binding on the Central/State Governments, rendering the reassessment notice bad in law. Case-Laws Income Tax Wed, 20 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=451302