https://www.taxtmi.com/caselaws?id=773902 Telangana HC rejected petitioner's challenge to income tax assessment reopening despite completion of Corporate Insolvency Resolution Process and NCLT-approved resolution plan. Court found authorities had valid reasons to investigate suspected fraudulent transactions involving identical purchase-sale quantities, momentary time gaps between trades, and significant price variations across eight contracts, indicating potential tax evasion of Rs.3 crores. While recovery proceedings post-resolution plan approval are impermissible, reassessment for scrutinizing illegal transactions and pursuing action against responsible directors remains legally permissible. Court emphasized CIRP cannot shield deliberate tax evasion or fraudulent activities. en-us Thu, 19 Jun 2025 00:00:00 +0530 Mon, 30 Jun 2025 08:43:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773902 Telangana HC rejected petitioner's challenge to income tax assessment reopening despite completion of Corporate Insolvency Resolution Process and NCLT-approved resolution plan. Court found authorities had valid reasons to investigate suspected fraudulent transactions involving identical purchase-sale quantities, momentary time gaps between trades, and significant price variations across eight contracts, indicating potential tax evasion of Rs.3 crores. While recovery proceedings post-resolution plan approval are impermissible, reassessment for scrutinizing illegal transactions and pursuing action against responsible directors remains legally permissible. Court emphasized CIRP cannot shield deliberate tax evasion or fraudulent activities. Case-Laws Income Tax Thu, 19 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773902