Where petitioner corporate debtor underwent CIRP and a resolution plan was approved, demand order and SCN for dues of pre-approval period are without jurisdiction
Pranav Mehta
Recently, the Hon’ble High Court of Bombay in the case of Srei Eqipment Finance Ltd. v Assistant Commissioner, [2025] 180 taxmann. com 89 (Bombay) has held that SCN and demand order issued for pre-approval period post CIRP resolution approval are wholly without jurisdiction and thus liable to be quashed.
Facts of the case:
This is a case which pertains to the A.Y. 2021.
The RBI initiated Corporate Insolvency Process (CIRP) under the Insolvency Bankruptcy Code 2016 (IBC Code) on 8 October 2021 against the Petitioner.
The resolution order was made on 11 August 2023.
Respondents has not intervened in the CIRP and sought for any reliefs therein.
The Respondents issued SCN dated 27 November 2024 to the Petitioner for CG.......