Aventura Properties Limited v. Deputy Commtssioner of Income Tax 8 2 1
Case brief
What is this about?
Extinction and deletion of pre-CIRP income-tax and TDS demands after approval of an IBC resolution plan; clean-slate principle; direction to give effect to NCLT orders (S. 7 and S. 31 IBC); Income Tax Portal demands (intimation/assessment) versus TRACES portal TDS short-deposit demands; Order Giving Effect (OGE); adjustment of c. Rs. 25 lakh pre-CIRP demands against refunds; intimation of outstanding demand spanning multiple assessment years; recomputation of liability/refund within four weeks and issuance of refunds within eight weeks; precedents engaged: Ghanshyam Mishra v. Edelweiss ARC (2021) 9 SCC 657; Vaibhav Goel v. DCIT (2025) 255 Company Cases 266 (SC); Swan Defence v. ACIT (W.P. (L.) 18145/2025); corporate debtor name change to Aventura Properties Ltd.; Bombay High Court Ordinary Original Civil Jurisdiction writ, rule made absolute, disposed without costs.
What did the court decide?
Rule made absolute and Writ Petition disposed of in terms of the directions: Respondent No. 1 to give effect to the NCLT Orders dated 15 May 2023 and 18 October 2023, extinguish all pre-Resolution-Plan demands on the Income Tax Portal and re-compute liability/refund within four weeks; Respondents to issue refunds due within eight weeks; no orders as to costs.