https://www.taxtmi.com/caselaws?id=465019 HC allowed the assessee's petition and quashed the notice issued u/s 263 against the insolvent company. Relying on binding SC precedent, the Court held that upon approval of the Resolution Plan on 12.10.2023, all tax liabilities of the corporate debtor stood fully extinguished, including those relating to AY 2020-21. Consequently, the Principal Commissioner had no jurisdiction to initiate revisionary proceedings on 26.01.2025 in respect of an already resolved liability. In view of this complete extinguishment, examination of the merits of the u/s 263 notice was rendered academic. en-us Tue, 11 Mar 2025 00:00:00 +0530 Mon, 01 Dec 2025 19:00:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465019 HC allowed the assessee's petition and quashed the notice issued u/s 263 against the insolvent company. Relying on binding SC precedent, the Court held that upon approval of the Resolution Plan on 12.10.2023, all tax liabilities of the corporate debtor stood fully extinguished, including those relating to AY 2020-21. Consequently, the Principal Commissioner had no jurisdiction to initiate revisionary proceedings on 26.01.2025 in respect of an already resolved liability. In view of this complete extinguishment, examination of the merits of the u/s 263 notice was rendered academic. Case-Laws Income Tax Tue, 11 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465019