SC Upholds Quashing of Reopening Tax Notice Due to IBC Clean Slate Doctrine

ACIT Vs AMW Auto Component Limited (Supreme Court of India) The case concerns a challenge to a notice issued under Section 148 of the Income Tax Act seeking to reopen assessment proceedings. The petitioner, a company engaged in manufacturing components for engineering and automotive industries, had filed its return of income for the Assessment Year 2021–22. Subsequently, a notice dated 31.03.2025 was issued for reopening the assessment. Read HC Judgment in this case: Reassessment Notice Quashed Due to Extinguishment of Tax Liabilities Under Approved Resolution Plan The petitioner had earlie...