39 ViewsThe Delhi Bench of the Income Tax Appellate Tribunal in the case ACIT Versus ABW Infrastructure Ltd. observed and has held that the Insolvency and Bankruptcy Code, 2016 has an overriding effect on all the acts, which includes the Income Tax Act, 1961 as per Section 178(6) of the Income Tax Act which is […]
Tax appellate tribunal asks CBIC to frame norms for tax recovery in insolvency cases
75 ViewsIndirect tax appellate tribunal CESTAT has asked the Central Board of Indirect Taxes and Customs (CBIC) to frame guidelines to deal with outstanding tax demands against companies facing insolvency proceedings. Giving its ruling in the Ultratech Nathdwara Cement Ltd case, the Ahmedabad bench of Customs, Excise & Service Tax Appellate Tribunal (CESTAT) observed that […]