https://www.taxtmi.com/caselaws?id=764641 The Gujarat HC quashed a reassessment notice issued under Section 148 against an insolvent company following NCLT approval of its Resolution Plan. The court held that once NCLT approves a Resolution Plan, all past dues are extinguished per the Supreme Court's Ghanashyam Mishra precedent. The tax authority lacked jurisdiction to reopen assessments after the Resolution Plan achieved finality, particularly since NCLAT had dismissed the authority's appeal, making the NCLT order final under Section 62 of the IBC. en-us Tue, 24 Dec 2024 00:00:00 +0530 Tue, 14 Jan 2025 18:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764641 The Gujarat HC quashed a reassessment notice issued under Section 148 against an insolvent company following NCLT approval of its Resolution Plan. The court held that once NCLT approves a Resolution Plan, all past dues are extinguished per the Supreme Court's Ghanashyam Mishra precedent. The tax authority lacked jurisdiction to reopen assessments after the Resolution Plan achieved finality, particularly since NCLAT had dismissed the authority's appeal, making the NCLT order final under Section 62 of the IBC. Case-Laws Income Tax Tue, 24 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764641