This article explores the complex relationship between taxation and insolvency laws, arguing that the tension between these two critical fields goes beyond simply conflicting provisions and is rooted in fundamentally different theoretical approaches. The authors contrast the "contractarian" model of insolvency, exemplified by the "creditor's bargain theory," which prioritizes maximizing creditor wealth, with the "communitarian" model, which emphasizes the broader interests of society and the rehabilitation of distressed firms. The authors further analyze the Indian context, examining the constitutional framework of taxation in India and how it intersects with the Insolvency and Bankruptcy Code (IBC) of 2016, which reflects a communitarian vision of insolvency. The authors conclude by highlighting the need for a better understanding of these theoretical foundations to achieve a harmonious and efficient approach to handling tax dues within insolvency proceedings.

свернуть