% 04.03.2025
1. These two writ petitions impugn the reassessment action
initiated by the respondents under Section 148 of the Income Tax Act,
This is a digitally signed order.
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The Order is downloaded from the DHC Server on 10/03/2025 at 21:23:35
1961 [„Act‟] and pertaining to Assessment Year [“AY”] 2014-2015
[W.P.(C) 2666/2023] and AY 2019-2020 [W.P.(C) 4935/2023].
2. The principal ground of challenge to those proceedings is based
on Section 31(1) of Insolvency and Bankruptcy Code, 2016 [“IBC”]
with it being contended that once the Resolution Plan had come to be
approved by the National Company Law Tribunal [„NCLT‟], any
proceedings pertaining to a period prior to the approval so granted
would not sustain. The submission essentially proceeds on the basis of
the clean slate theory that courts have enunciated in the context of the
IBC.
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