Resolution Applicant Not Liable for liabilities other than those specified in Resolution Plan

Ireo Fiveriver Pvt. Ltd. Vs Income Tax Department & Anr. (Delhi High Court) The Delhi High Court recently delivered a judgment in the case of Ireo Fiveriver Pvt. Ltd. vs Income Tax Department & Anr., pertaining to Section 148A(d) of the Income Tax Act, 1961, for the Assessment Year 2017-18. The judgment revolves around the reassessment order dated July 30, 2022, issued by the Income Tax Department. The petitioner, Ireo Fiveriver Pvt. Ltd., challenged this order on the grounds that it pertained to a period before the approval of the Resolution Plan by the National Company Law Tribunal (...