The case involves an application filed by the successful resolution applicant of Adhunik Metaliks Ltd to quash demand notices of penalty issued by the Assistant Commissioner of Income Tax, Central Circle - 1(1), Kolkata. The State Bank of India had initiated Corporate Insolvency Resolution Process (CIRP) against Adhunik Metaliks Ltd, which was admitted, and a resolution plan was approved. The respondent, Assistant Commissioner of Income Tax, issued demand notices for dues pertaining to the period prior to the approval of the resolution plan, despite not having submitted its claims during the CIRP.
State Bank of India initiated CIRP against Adhunik Metaliks Ltd. The CIRP was initiated, and a resolution professional was appointed. A public announcement was made, inviting claims from creditors, with a deadline of 18.08.2017. The Assistant Commissioner of Income Tax, Central Circle 1(1), Kolkata (the respondent), did not submit any claims during the CIRP. A resolution plan submitted by Liberty House Group Pvt Ltd was approved on 22.06.2018. Subsequently, the respondent issued demand notices on 17.03.2022 and 15.07.2022, claiming dues of Rs.50,23,23,220/- and Rs.8,90,80,992/-, respectively, for the assessment year 2014-2015, relating to the period prior to the approval of the resolution plan. The applicant, the successful resolution applicant, filed an application to
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Corporate Insolvency…
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The case involves an application filed by the successful resolution applicant of Adhunik Metaliks Ltd to quash demand notices of penalty issued by the Assistant Commissioner of Income Tax, Central Circle - 1(1), Kolkata. The State Bank of India had initiated Corporate Insolvency Resolution Process (CIRP) against Adhunik Metaliks Ltd, which was admitted, and a resolution plan was approved. The respondent, Assistant Commissioner of Income Tax, issued demand notices for dues pertaining to the period prior to the approval of the resolution plan, despite not having submitted its claims during the CIRP.
State Bank of India initiated CIRP against Adhunik Metaliks Ltd. The CIRP was initiated, and a resolution professional was appointed. A public announcement was made, inviting claims from creditors, with a deadline of 18.08.2017. The Assistant Commissioner of Income Tax, Central Circle 1(1), Kolkata (the respondent), did not submit any claims during the CIRP. A resolution plan submitted by Liberty House Group Pvt Ltd was approved on 22.06.2018. Subsequently, the respondent issued demand notices on 17.03.2022 and 15.07.2022, claiming dues of Rs.50,23,23,220/- and Rs.8,90,80,992/-, respectively, for the assessment year 2014-2015, relating to the period prior to the approval of the resolution plan. The applicant, the successful resolution applicant, filed an application to
…Corporate Insolvency…
Last date for…