Insolvency Resolution Plan Clashes with Income-tax Act; Schemes from 2010 and 2016 Remain Unchanged.

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Full Text of the Document

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....Corporate insolvency proceedings -The ‘Resolution Plan’ contravenes the provisions of the Income-tax Act - we are not interfering with the illegal Schemes dated 11th March, 2010 and 28th July, 2016 though we hold them as illegal.....