Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Informative
Notice U/S 263 Of Income Tax Act Cannot Be Issued By Authority After Approval Of Resolution Plan U/S 31 Of IBC: Gujarat High Court
Income TaxInsolvency & Bankruptcy Code
The Gujarat High Court has ruled that a notice under Section 263 of the Income Tax Act cannot be issued by an authority after the approval of a resolution plan under Section 31 of the Insolvency and Bankruptcy Code (IBC). The court's decision protects the finality of resolution plans. This ruling ensures that tax authorities cannot disrupt approved resolution plans. The judgment provides clarity on the interplay between the Income Tax Act and the IBC.
