# In the matter of Lanco Solar Energy Pvt. Ltd.

> NCLT judgment dated 2025-04-09. Citation: TCN-2025-NCLT-00224. The application was filed by Lanco Solar Energy Private Limited (Applicant/Corporate Debtor/CD)…

- **Court:** NCLT
- **Order date:** 9 Apr 2025
- **Citation:** TCN-2025-NCLT-00224
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/lanco-solar-energy-pvt-ltd-03704672

## Summary

### Background

The application was filed by Lanco Solar Energy Private Limited (Applicant/Corporate Debtor/CD) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking a direction to Respondent No.1 (The Deputy/Assistant Commissioner of Income Tax) to release the refund amount of Rs.19,56,17,549/- along with applicable interest. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 14.06.2019. The Respondent No.1 had issued Assessment Orders for the Assessment Years 2012-13 and 2013-14 and also submitted its claim in Form B. The ITAT dismissed the appeals filed by the Corporate Debtor. The CoC approved the Resolution Plan submitted by the Successful Resolution Applicant (SRA). The SRA provided an amount towards full and final

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## Facts

Lanco Solar Energy Private Limited was admitted into CIRP on 2019-06-14 based on a petition filed by Andhra Bank under Section 7 of the IBC. Parveen Bansal was appointed as the Resolution Professional (RP). The Deputy/Assistant Commissioner of Income Tax (Respondent No.1) issued assessment orders for the assessment years 2012-13 and 2013-14. Respondent No.1 submitted a claim in Form B for Income Tax Arrears. The Income Tax Appellate Tribunal (ITAT) dismissed the appeals filed by the Corporate Debtor. The CoC approved a Resolution Plan submitted by Jitendra Vir Singh and Derit Infrastructure Private Limited. The Resolution Plan was approved by the NCLT on 2024-04-24. The Successful Resolution Applicant (SRA) provided Rs. 20,00,000/- towards full and final settlement of

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## Issues and analysis

### Issue 1: Whether the Respondent No.1 was justified in adjusting the outstanding tax demand pertaining to …

**Ratio:** Section 14(1)(c) of the IBC imposes a moratorium that prohibits any action to recover or

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**Reasoning:** The court reasoned that allowing the adjustment of tax demands against refunds during the

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**Interpretation:** Section 14 of the IBC is interpreted to provide a comprehensive bar against any

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**Application:** In this case, the Respondent No.1 adjusted the outstanding tax demand

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## Parties

- **Judges:** Rajeev Bh…; Sanjay…
- **Appellants:** Andhra…
- **Respondents:** Lanco Solar…
- **Advocates:** Mr.Y.Suryan…; Ms.B.Sapna…; +1 more

## Timeline

- **2018-01-01 — Assessment…**: Respondent No.1 issued Assessment Orders for…
- **2019-06-14 — CIRP Init…**: M/s. Lanco Solar Energy Private Limited was admitted into Corporate Insolvency Resolution…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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