Dismissing the petition the Court held that the provisions of the Insolvency and Bankruptcy Code, 2016, cannot be interpreted in a manner which is inconsistent with any other law for the time being in force. A corporate insolvency resolution plan sanctioned and approved cannot impinge on the rights of the Income-tax Department to pass any fresh assessment order under section 148 read with sections 143(3) and 147 of the Income-tax Act, 1961. Therefore, the proceedings under the Code cannot be pressed into service to dilute the rights of the Income-tax Department under the Income-tax Act, 1961 to reopen the assessment under section 148 of the Act. The Income-tax Department is not precluded from reopening the assessment completed under section 143(3) of the Act. The notices of reassessment were valid. (AY. 2011-12 to 2013-14)