TDS u/s. 194-IA deducted on assets sold during liquidation should be refunded to corporate debtor

Sunil Kumar Agarwal Liquidator for Varia Engineering Works Pvt Ltd Vs Chief Commissioner of Income Tax (TDS) (NCLT Ahmedabad) NCLT Ahmedabad held that the amount of TDS deducted under section 194-IA on assets sold during the process of liquidation should be returned (refunded) back by income tax department into the account of Corporate Debtor. Facts- Bank of Baroda filed application u/s. 7 of the Insolvency and Bankruptcy Code, 2016 for initiation of Resolution Process against Varia Engineering Works Private. In application bearing CP(IB) No.149 of 2017, CIRP was initiated by an order dated 2...