In this episode, we explore the legal intricacies of whether the Income Tax Department can issue a reassessment notice after a resolution plan has been approved under the Insolvency and Bankruptcy Code (IBC). Using the recent case of Asian Colour Coated Ispat Ltd. vs. Assistant Commissioner of Income Tax as our case study, we discuss the Delhi High Court’s judgment and the broader implications for corporate debtors, creditors, and tax authorities.

Key highlights:

• What happens when tax notices arrive after insolvency resolution?

• The role of the resolution plan in closing past claims and liabilities.

• Important legal precedents set by the Supreme Court.

Tune in to stay informed on the complex overlap between insolvency and tax law. Don’t forget to subscribe to VListen for more insights on corporate governance, insolvency, and finance!