Observing that the Assessing Officer who framed the assessment lacked jurisdiction because a statutory notice under Section 143(2) was not issued after the case transfer, the Tribunal ruled the assessment was invalid and a nullity.

Under Section 7 of the IBC, it is only required to determine the existence of a financial debt and the occurrence of default, not to adjudicate ancillary civil or insurance disputes.

Under Section 7 of the IBC, it is only required to determine the existence of a financial debt and the occurrence of default, not to adjudicate ancillary civil or insurance disputes.