Case Law Details
Empee Distilleries Limited Vs CIT (Madras High Court)
Madras High Court has allowed withdrawal request of the petitioner in the Writ of Declaration filed in order to declare the demand order issued against the petitioner quashed in view of the resolution plan.
Facts-
Empee Distilleries Limited (EDL) is a public limited company incorporated in India. At the instance of creditor banks, EDL went into Corporate Insolvency Resolution Proceedings (CIRP) under the Insolvency and Bankruptcy Code, 2016. The National Company Law Tribunal (NCLT) Chennai made an order approving a resolution plan. The plan was challenged at the NCLAT and the Supreme Court.
Subsequently, the assessment order passed against the assessee was also challenged on the ground of the resolution plan. The assessment order was carried in appeal by EDL by way of a regular statutory appeal u/s. 250 of the Income Tax Act. EDL did not respond to the notices from the Appellate Authority but the Appellate Authority perused the records of EDL, returned as it found no reason to interfere with the order of Assessing Officer dated and dismissed the appeal. Aggrieved assessee filed the present writ petition.
Please become a Premium member. If you are already a Premium member, login here to access the full content.