{"id":65299,"date":"2026-10-30T16:24:41","date_gmt":"2026-10-30T10:54:41","guid":{"rendered":"https:\/\/itatonline.org\/digest\/dy-cit-v-ornate-spaces-p-ltd-2026-310-taxman-405-sc-editorial-ornate-spaces-p-ltd-v-dy-cit-2026-185-taxmann-com-422-bomhc\/"},"modified":"2026-10-30T16:24:41","modified_gmt":"2026-10-30T10:54:41","slug":"dy-cit-v-ornate-spaces-p-ltd-2026-310-taxman-405-sc-editorial-ornate-spaces-p-ltd-v-dy-cit-2026-185-taxmann-com-422-bomhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dy-cit-v-ornate-spaces-p-ltd-2026-310-taxman-405-sc-editorial-ornate-spaces-p-ltd-v-dy-cit-2026-185-taxmann-com-422-bomhc\/","title":{"rendered":"Dy. CIT v. Ornate Spaces (P.) Ltd. (2026) 310 Taxman 405 (SC) Editorial: Ornate Spaces (P.) Ltd v.Dy.CIT (2026) 185 taxmann.com 422 (Bom)(HC)"},"content":{"rendered":"<p>Assessee-corporate debtor underwent insolvency resolution and a revised Resolution Plan was approved by NCLT on 6-10-2023. As per the plan, all tax liabilities, claims or demands made by the Income Tax Department in relation to any period prior to the NCLT approval date were deemed to be permanently extinguished.\u00a0 For the relevant assessment year, the Assessing Officer issued a notice under section 148 dated 28-3-2025, and a consequential notice under section 142 dated 2-6-2025. High Court quashed the notice and consequential orders.\u00a0 SLP of revenue dismissed\u00a0 (AY. 2021-22)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 148: Reassessment-Notice-Merger-High Court quashed the notice and consequential orders; SLP of revenue quashed. [S. 147, the Insolvency and Bankruptcy Code, 2016,  S. 31, Art. 136] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-65299","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gZd","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=65299"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65299\/revisions"}],"predecessor-version":[{"id":65300,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65299\/revisions\/65300"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=65299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=65299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=65299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}