https://www.taxtmi.com/caselaws?id=427804 The Tribunal dismissed the Revenue's appeal against the Commissioner of Income Tax (Appeals) order for the assessment year 2008-09 due to the ongoing Corporate Insolvency Resolution Proceedings (CIRP) against the corporate debtor, M/s. Neueon Towers Ltd. The judgment highlighted the binding nature of the resolution plan under the Insolvency and Bankruptcy Code, emphasizing the need to await the CIRP outcome before proceeding with the appeal. The Tribunal clarified that claims specified in an approved resolution plan become binding on the corporate debtor, extinguishing claims not included in the plan. en-us Wed, 10 Aug 2022 00:00:00 +0530 Sat, 17 Sep 2022 13:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427804 The Tribunal dismissed the Revenue's appeal against the Commissioner of Income Tax (Appeals) order for the assessment year 2008-09 due to the ongoing Corporate Insolvency Resolution Proceedings (CIRP) against the corporate debtor, M/s. Neueon Towers Ltd. The judgment highlighted the binding nature of the resolution plan under the Insolvency and Bankruptcy Code, emphasizing the need to await the CIRP outcome before proceeding with the appeal. The Tribunal clarified that claims specified in an approved resolution plan become binding on the corporate debtor, extinguishing claims not included in the plan. Case-Laws Income Tax Wed, 10 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427804