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
Provision under IBC overrides Income Tax Act: Calcutta HC
Insolvency & Bankruptcy Code
The Calcutta High Court ruled that provisions of the Insolvency and Bankruptcy Code (IBC) override the Income Tax Act, prioritizing insolvency proceedings over tax claims. The court affirmed that once liquidation proceedings have commenced under IBC, the Income Tax Appellate Tribunal was justified in dismissing a revenue appeal, as the corporate debtor's assets fall under the purview of the IBC, and Section 238 of the IBC has an overriding effect.
