https://www.taxtmi.com/caselaws?id=769988 The HC quashed income tax assessment proceedings against a company under insolvency resolution. The court held that once NCLT approved the resolution plan, the assessing officer lacked jurisdiction to continue proceedings for claims not part of the plan. The court relied on Ghanashyam Mishra SC precedent establishing that approved resolution plans freeze all claims, and IBC provisions override Income Tax Act under section 238. Additionally, the assessing officer failed to properly consider the assessee's explanations to show cause notices, violating basic procedural principles. The entire assessment proceeding was deemed without jurisdiction and unsustainable in law. en-us Fri, 21 Mar 2025 00:00:00 +0530 Sat, 03 May 2025 13:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769988 The HC quashed income tax assessment proceedings against a company under insolvency resolution. The court held that once NCLT approved the resolution plan, the assessing officer lacked jurisdiction to continue proceedings for claims not part of the plan. The court relied on Ghanashyam Mishra SC precedent establishing that approved resolution plans freeze all claims, and IBC provisions override Income Tax Act under section 238. Additionally, the assessing officer failed to properly consider the assessee's explanations to show cause notices, violating basic procedural principles. The entire assessment proceeding was deemed without jurisdiction and unsustainable in law. Case-Laws Income Tax Fri, 21 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769988