https://www.taxtmi.com/caselaws?id=761337 Gujarat HC held that reopening of assessment u/s 147 subsequent to insolvency proceedings is impermissible. The court ruled that after approval of resolution plan under insolvency law, all liabilities of stakeholders including government/statutory authorities stand extinguished. No person can initiate or continue proceedings for dues relating to pre-approval period. Consequently, notices u/s 148 and order u/s 148A(d) were quashed and set aside as they violated clear legal provisions regarding post-resolution plan liability extinguishment. en-us Tue, 01 Oct 2024 00:00:00 +0530 Fri, 08 Nov 2024 19:58:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761337 Gujarat HC held that reopening of assessment u/s 147 subsequent to insolvency proceedings is impermissible. The court ruled that after approval of resolution plan under insolvency law, all liabilities of stakeholders including government/statutory authorities stand extinguished. No person can initiate or continue proceedings for dues relating to pre-approval period. Consequently, notices u/s 148 and order u/s 148A(d) were quashed and set aside as they violated clear legal provisions regarding post-resolution plan liability extinguishment. Case-Laws Income Tax Tue, 01 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761337