IBC proceedings cannot dilute rights of the IT department to reopen assessment


Last updated: 04 July 2022

Court :
Madras High Court

Brief :
THE MADRAS HIGH COURT has ruled that proceedings under the Insolvency and Bankruptcy Code (IBC), 2016 cannot dilute the rights of the Income Tax Department to reopen the assessment under Section 148 of the Income Tax Act, 1961.

Citation :
M/s. Dishnet Wireless Limited Vs the Assistant Commissioner of Income Tax (OSD)-Hon’ble Madras High Court Dated: 17.06.2022

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