# In the matter of Unijules Life Science Limited

> NCLT judgment dated 2025-07-30. Citation: TCN-2025-NCLT-01272. The case involves an application filed by the Resolution Professional of Unijules Life Sciences…

- **Court:** NCLT
- **Order date:** 30 Jul 2025
- **Citation:** TCN-2025-NCLT-01272
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/unijules-life-science-limited-ec205b00

## Summary

### Background

The case involves an application filed by the Resolution Professional of Unijules Life Sciences Ltd. under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking reliefs related to the adjustment of pre-CIRP tax dues against post-CIRP tax refunds by the Income Tax Department.

## Facts

CIRP was commenced on 8.3.2019 by the Tribunal on an application u/s 7 of I B Code filed by Punjab National Bank.

The Income Tax Department adjusted demands outstanding for A.Y. 2006-07, 2007-08 and 2011-12 against the refunds claimed in the Income Tax Return filed by the Applicant Resolution Professional after commencement of CIRP period i.e. A.Y. 2019-20, 2021-22, 2022-23 and 2023-24.

The Applicant requested the Respondent Department to refund the adjusted amount of INR 25,90,790/- along with interest at 12% p.a.

The Respondent Assessing Officer, Income Tax Department was served notice of the application but did not appear before the Tribunal.

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## Issues and analysis

### Issue 1: Whether the adjustment of pre-CIRP tax dues against post-CIRP tax refunds is permissible under the …

**Ratio:** The claims of creditors as on the Insolvency Commencement date are to be settled in

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**Reasoning:** The Tribunal relied on the Supreme Court's judgment in Bharti Airtel Ltd. and the

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**Interpretation:** The IBC does not recognize the principle of insolvency set-off, and the

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**Application:** The Tribunal applied the principles established in Bharti Airtel Ltd. and the

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## Parties

- **Judges:** Prabhat…; Sushil Mahadeorao…
- **Appellants:** Punjab National…; Resolution…
- **Respondents:** Unijules Life…
- **Other parties:** Income tax…; Malavika…
- **Advocates:** Malavika…; Narpat…

## Timeline

- **2019-03-08 — Commencement…**: CIRP was commenced by the Tribunal on an application u/s 7 of I B Code filed by Punjab…
- **2019-04-01 — Claim Fi…**: The Respondent Income Tax Department filed…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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