NFAC Cannot Invoke Section 144B if failed to Lodge Claim Within CIRP Timeframe

M Tech Developers Pvt. Ltd. Vs National Faceless Assessment Centre (Delhi High Court) In a recent case before the Delhi High Court, M Tech Developers Pvt. Ltd. challenged notices issued by the National Faceless Assessment Centre (NFAC) under Section 144B of the Income Tax Act, 1961. These notices pertained to the Assessment Year 2021-22 and were issued despite the approval of a Resolution Plan under the Insolvency and Bankruptcy Code, 2016 (IBC). The petitioner argued that such notices were in violation of Section 31 of the IBC. Detailed Analysis: The crux of the petitioner’s argument li...