2025 (11) TMI 1078

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....PRANAV TRIVEDI Appearance: For the Petitioner(s) No. 1: Mr Tushar Hemani Senior Counsel With Ms Vaibhavi K Parikh (3238). For the Respondent(s) No. 1: Mr Rutvij R Patel (10615). ORAL ORDER (PER : HONOURABLE MR. JUSTICE A.S. SUPEHIA) 1. RULE. Learned advocate Mr. Rutvij R. Patel waives service of notice of rule on behalf of the respondent. 2. At the outset, learned Senior Advoc....

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....sed under Section 148 of the Income Tax Act,1961 (for short 'the Act') and the impugned order dated 29.03.2023 under Section 148A(d) of the Act for the assessment year 2019-20, would pale into insignificance in view of the approval of the Resolution Plan passed by the National Company Law Tribunal ( for short 'NCLT'), Ahmedabad Bench vide judgment and order dated 20.09.2022. It is submitted that t....

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....t. It is submitted that the petitioner - Company had not filed any return of income for the financial year 2019-20, despite having income exceeding Rs.309,43,77,092/-, thereby suggesting escapement of income for assessment year 2019-20, within the meaning of Section 147 of the Act. He has submitted that the order under Section 148A(d) of the Act and the notice under Section 148 of the Act, which w....

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.... Auto Component Ltd. Vs. Assistant Commissioner of Income Tax. "8. From the perusal of the above it is evident that all tax liabilities, assessed and unassessed under the Income Tax Act, 1961 "shall stand waived and extinguished". ** 11. Therefore, applying the decisions of the Hon'ble Apex Court to the facts of the present case, it is clear that on the complete extingui....