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Tax appellate tribunal asks CBIC to border norms for tax restoration in insolvency circumstances

Tax appellate tribunal asks CBIC to frame norms for tax recovery in insolvency cases Giving its ruling within the Ultratech Nathdwara Cement Ltd case, the Ahmedabad bench of Customs, Excise Service Tax Appellate Tribunal (CESTAT) noticed that the income division has no correct guideline as to what stand is to be taken in a case the place the proceedings underneath the Insolvency and Chapter Code (IBC) is in progress earlier than NCLT/NCLAT or at larger discussion board.