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HomeDirect TaxIBC Overrides Income Tax Act, But Dept. Can Determine Dues During Liquidation...

IBC Overrides Income Tax Act, But Dept. Can Determine Dues During Liquidation Proceedings: ITAT

Direct Tax

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By Mariya Paliwala
IBC Overrides Income Tax Act, But Dept. Can Determine Dues During Liquidation Proceedings: ITAT

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The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that while the provisions of the Insolvency and Bankruptcy Code (IBC), 2016 override the Income Tax Act, the tax department is not completely barred from undertaking assessment proceedings during liquidation.  The bench of Sunil Kumar Singh (Judicial Member) and Om Prakash Kant (Accountant…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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