Bombay HC quashes Income Tax Notices Due to Approved Resolution Plan

Ornate Spaces Private Limited Vs DCIT (Bombay High Court)

The Bombay High Court heard a writ petition challenging notices issued under Sections 148 and 142(1) of the Income Tax Act, 1961 for Assessment Year 2021-22. The petitioner argued that the notices were issued after a revised Resolution Plan had been approved on 6 October 2023. Paragraph 8.27 of the Resolution Plan explicitly stated that all tax liabilities, claims, and demands—whether direct or indirect, known or unknown, admitted or disputed—relating to any period prior to the NCLT approval date were permanently extingu

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