IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/SPECIAL CIVIL APPLICATION NO. 10927 of 2022 FOR APPROVAL AND SIGNATURE:

HONOURABLE MR. JUSTICE A.S. SUPEHIA and HONOURABLE MR. JUSTICE PRANAV TRIVEDI ==================================================

Approved for Reporting Yes No ✔

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GSL NOVA PETROCHEMICALS LIMITED Versus THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 2(1)(1), AHMEDABAD ==================================================

Appearance:

MR TUSHAR HEMANI SENIOR ADVOCATE with MS VAIBHAVI K PARIKH(3238)

for the Petitioner(s) No. 1 DEV D PATEL(8264) for the Respondent(s) No. 1 ==================================================

CORAM:HONOURABLE MR. JUSTICE A.S. SUPEHIA and HONOURABLE MR. JUSTICE PRANAV TRIVEDI Date : 17/04/2026 ORAL JUDGMENT (PER : HONOURABLE MR. JUSTICE PRANAV TRIVEDI)

1. Heard learned Senior Advocate Mr. Tushar Hemani assisted by learned advocate Ms. Vaibhavi Parikh for the petitioner and learned Senior Standing Counsel Mr. Dev Patel for the respondent.

2. With the consent of the learned advocates for the respective parties, the matter is taken up for hearing, as the issue involved is very short.

3. The petition has been filed under Article 226 of the Constitution of India with the following prayers :-

“(a) Quash and set aside the impugned notice as well as impugned order at Annexure-”A (Colly.)” to this petition;

(b) Pending the admission, hearing and final disposal of this petition, stay the implementation and operation of the impugned notice as well as impugned order at Annexure-”A (Colly.)” to this petition and stay further proceedings for Assessment Year 2018-19;

(c) Any other and further relief deemed just and proper by granted in the interest of justice;

(d) To provide for the cost of petition.”

4. The brief facts of the case are as follows:

4.1. The petitioner is a company registered under the Companies Act, 1956. The petitioner had filed the return of income under the provisions of the Income Tax Act, 1961 (for short “the Act”) for the Assessment Year

2018-19.

4.2. The case of the petitioner qua Assessment Year 2018-19 was proposed to be reopened by the issuance of a notice dated 30.03.2022 under Section 148 of the Act.

4.3. The petitioner was subjected to the insolvency proceedings under the Insolvency and Bankruptcy Code, 2016 (“IBC”), wherein, a Corporate Insolvency Resolution Process (“CIRP”) was initiated under Section 7 of the IBC, which was admitted by the Adjudicating Authority vide order dated 05.10.2021.

4.4. An Interim Resolution Professional was appointed by the National Company Law Tribunal (For short “Tribunal”), who made a public announcement in accordance with Sections 13, 15 and other relevant provisions of the IBC read with the Regulation 6 of the Insolvency and Bankruptcy Board of India (Insolvency Process of Corporate Persons) Regulations, 2016, (For short “Regulations, 2016”) thereby inviting claims from the various creditors of the Petitioner.

4.5. Further, under the CIRP, the Resolution Plan of GSL Nova Petrochemicals Limited for the revival of the petitioner was approved by the Hon’ble Tribunal vide order dated 05.10.2021 under Section 30(6) of the IBC. The said Resolution Plan provided for the waiver and extinguishment of all the unassessed/assessed tax liabilities for the period prior to the Tribunal approval date.

4.6. The respondent has issued the impugned notice dated 30.03.2022, under Section 148 of the Act.

4.7. Challenging the legality of the impugned notice dated 30.03.2022 under Section 148 of the Act and impugned order dated 30.03.2022 passed under Section 148A(d) of the Act, the petitioner has filed this petition.

5. Learned Senior Advocate Mr. Tushar Hemani assisted by learned advocate Ms. Vaibhavi Parikh appearing on behalf of the petitioner submitted that on the approval of the Resolution Plan under Section 31 of the IBC, all dues of the Corporate Debtor except those which have been specifically provided for in the Resolution Plan would