2025 (11) TMI 1855

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r is challenging the Notice dated 24th June 2025 issued under Section 143(2) of the Income Tax Act, 1961 (for short "the Act") and Notice dated 26th September 2025 issued under Section 142(1) of the Act, both issued by Respondent No. 1, for the A.Y. 2024-25 (F.Y.2023-24). 3. It is contended by the Petitioner that prior to initiation of the impugned assessment proceedings, the NCLT, Mumbai Bench, vide its order dated 31st May 2019, admitted an application filed by Asset Reconstruction Company (India) Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016 (for short "IBC") and declared a moratorium under Section 14 of the IBC and appointed the Resolution Professional. 4. In an appeal filed against the order dated 31st May 2....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....024-25 (Financial Year 2023-24). 9. Thereafter, Respondent No. 1 has issued the impugned notices dated 24th June 2025 under Section 143(2) of the Act and 26th September 2025 under Section 142(1) of the Act. 10. Accordingly, it is contended by the Petitioner that the impugned notices are liable to be quashed and set aside, as being entirely without jurisdiction and contrary to law declared by the Hon'ble Apex Court in Ghanshyam Mishra & Sons Pvt. Ltd. Vs. Edelweiss Asset Reconstruction Company Ltd. & Ors. [(2021) 9 SCC 657], Vaibhav Goel & Anr. Vs. Deputy Commissioner of Income Tax & Anr. [(2025) 255 Company Cases 266 (SC)] and orders dated 06th August 2025 passed in Petitioner's own case for A.Y.2020-21 and A.Y.2021-22 in Writ Petitio....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....020-21 were quashed on the ground that the alleged tax liability pertained to a period prior to the approval of the Resolution Plan dated 26th April 2024. This Court held that allowing the Department to pursue reassessment proceedings for a period prior to the approval of the Resolution Plan would defeat the object of the Insolvency and Bankruptcy Code, 2016, as the successful Resolution Applicant is entitled to revive the corporate debtor on a clean slate basis. 16. The principle laid down in the said judgment squarely applies to the present proceedings, since, the impugned notices under Sections 143(2) and 142(1) of the Act seeks information for the period prior to the approval of the Resolution Plan. Therefore, the issue raised herein....