Case Law Details
Indo Enviro Integrated Solutions Limited Vs ACIT (Delhi High Court)
Introduction: Delhi High Court is now the battleground for Indo Enviro Integrated Solutions Limited as it challenges the order, notices of demand, and penalty issued by the Assistant Commissioner of Income Tax (ACIT) on May 14, 2022. The crux of the challenge lies in the alleged contravention of the National Company Law Tribunal (NCLT) order dated May 2, 2022. The petitioner contests the proceedings initiated by respondent No.2, claiming they are without jurisdiction and violate the National Company Law Appellate Tribunal (NCLAT) order of October 15, 2018.
Detailed Analysis: The petitioner contends that the impugned order and consequential notices, demanding a staggering Rs. 48 crores in income tax, violate the NCLT order in CA No.1163 of 2020 in CP No.3638/MB/2018. The NCLT order, dated February 2, 2021, extinguished all claims and liabilities of creditors, including those of the Central Government, local tax, or regulatory authorities, existing at or relating to the period before October 15, 2018. The challenge revolves around the alleged non-compliance with the resolution process approved by the NCLT.
The learned counsel for the petitioner argues that the entire tax demand is in contradiction to the NCLT order, and the notices issued by respondent No.2 lack jurisdiction, violating the NCLAT order of October 15, 2018. The petitioner has sought legal intervention from the Delhi High Court to rectify the perceived irregularities.
Conclusion: The legal tussle between Indo Enviro Integrated Solutions Limited and the Assistant Commissioner of Income Tax takes center stage in the Delhi High Court. The petitioner vehemently argues against the tax demand, asserting a breach of NCLT orders. The court has issued notices, and the proceedings, along with the consequential notices of demand and penalty, are currently stayed until further orders. The stage is set for a comprehensive legal examination, and the next hearing is scheduled for September 27, 2022.
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