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ITAT upholds ‘clean slate’ principle under IBC in IndusInd General Insurance vs IT case

The advocates of the assessee argued that under Clause 9.1.8 of the NCLT-approved Resolution Plan, all pending tax proceedings and liabilities concerning RCL’s subsidiaries relating to the pre-approva...

ITAT upholds ‘clean slate’ principle under IBC in IndusInd General Insurance vs IT case
Source: The Hindu BusinessLine - Banking

The advocates of the assessee argued that under Clause 9.1.8 of the NCLT-approved Resolution Plan, all pending tax proceedings

and liabilities concerning RCL’s subsidiaries relating to the pre-approval period were permanently extinguished and dismissed

SOURCE: The Hindu BusinessLine - Banking
ORIGINAL REPORT: Click here
DHALLO EDITORIAL STATUS: Aggregated & reviewed
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