Modification and revision of notice in certain cases
Modification and revision of notice in certain cases.
290. (1) Where,—
| (a) | any tax, interest, penalty, fine or any other sum in respect of which a notice of demand has been issued earlier under section 289; and | |
| (b) | such tax, interest, penalty, fine or any other sum is reduced as a result of an order of the Adjudicating Authority as defined in section 5(1) of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), |
the Assessing Officer shall serve on the assessee a modified notice of demand specifying the sum payable, if any, and such notice shall be treated as a notice under section 289 and the provisions of this Act shall accordingly apply in relation to such notice.
(2) The modified notice of demand as referred to in sub-section (1) shall be revised where the order referred to in sub-section (1)(b) is modified by the National Company Law Appellate Tribunal or the Supreme Court.