https://www.taxtmi.com/caselaws?id=430874 The Tribunal dismissed the Revenue's appeals challenging the Commissioner of Income Tax (Appeals) orders due to the dissolution of the company by the NCLT. The Tribunal emphasized that with the company dissolved and no successor in place, the appeals were rendered infructuous. The judgment highlighted the provisions of the Income Tax Act regarding director liability, concluding that as the company was a public company and not converted into a private company, section 179 did not apply to its directors. Consequently, the Tribunal recognized the dissolution of the company as a valid reason to dismiss the Revenue's appeals. en-us Fri, 25 Nov 2022 00:00:00 +0530 Wed, 30 Nov 2022 07:29:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430874 The Tribunal dismissed the Revenue's appeals challenging the Commissioner of Income Tax (Appeals) orders due to the dissolution of the company by the NCLT. The Tribunal emphasized that with the company dissolved and no successor in place, the appeals were rendered infructuous. The judgment highlighted the provisions of the Income Tax Act regarding director liability, concluding that as the company was a public company and not converted into a private company, section 179 did not apply to its directors. Consequently, the Tribunal recognized the dissolution of the company as a valid reason to dismiss the Revenue's appeals. Case-Laws Income Tax Fri, 25 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430874