https://www.taxtmi.com/caselaws?id=427030 The Appellate Tribunal ITAT Hyderabad allowed the delayed appeal by the assessee against the Commissioner of Income Tax (Appeals) order, condoning the delay. The Tribunal considered the ongoing Corporate Insolvency Resolution Proceedings (CIRP) against the assessee, noting the moratorium on legal proceedings under the Insolvency and Bankruptcy Code, 2016. The Tribunal dismissed the appeal due to the ongoing CIRP, emphasizing that claims not part of the approved resolution plan would be extinguished. The decision highlighted the binding nature of the resolution plan on claims against the corporate debtor, with the possibility of appeal restoration post-CIRP conclusion. en-us Tue, 02 Aug 2022 00:00:00 +0530 Wed, 31 Aug 2022 06:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427030 The Appellate Tribunal ITAT Hyderabad allowed the delayed appeal by the assessee against the Commissioner of Income Tax (Appeals) order, condoning the delay. The Tribunal considered the ongoing Corporate Insolvency Resolution Proceedings (CIRP) against the assessee, noting the moratorium on legal proceedings under the Insolvency and Bankruptcy Code, 2016. The Tribunal dismissed the appeal due to the ongoing CIRP, emphasizing that claims not part of the approved resolution plan would be extinguished. The decision highlighted the binding nature of the resolution plan on claims against the corporate debtor, with the possibility of appeal restoration post-CIRP conclusion. Case-Laws Income Tax Tue, 02 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427030