Tax Notice Quashed Because Claims Extinguished After Resolution Plan

Swan Defence and Heavy Industries Ltd. Vs ACIT (Bombay High Court)

The Bombay High Court considered a writ petition challenging an order dated 4 March 2025 passed under Sections 201(1) and 201(1A) of the Income Tax Act, 1961, along with a related demand notice for Assessment Year 2019–20. The petitioner argued that the proceedings were merely academic because no tax demand could be raised for the said year after approval of a resolution plan under the Insolvency and Bankruptcy Code, 2016 (IBC). The National Company Law Tribunal (NCLT), Ahmedabad Bench, had approved the resolution

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