After 15 months of the approval of the Resolution Plan, claim of Income Tax by issuing attachment notices under section 226 (3) of the Income Tax Act, 1961 cannot be entertained – Assam Company India Ltd. Vs. Principal Commissioner of Income Tax Dibrugarh – NCLT Guwahati Bench
It is also observed that in the approved Resolution Plan, it was clearly stated that barring aside the claims admitted and forming part of the Resolution Plan any other claim and/or demand prior to the effective date shall stand extinguished. Since the Respondents have filed its further claim by issuing attachment notices dated 28.01.2020 under section 226 (3) of the Income Tax Act, 1961 attaching a sum of Rs.6,71,05,730.00 towards Income Tax and Rs.1,70,53,311.00 towards interest for the assessment year 2014-15 to the Banker of the applicant i.e. to the Chief Manager/ Principal Officer, Allahabad Bank, Dibrugarh Bench i.e. after 15 months of the approval of the Resolution Plan, their claim at this stage cannot be entertained.
