https://www.taxtmi.com/caselaws?id=432193 The cross-appeals challenging the order under section 250 of the Income Tax Act for the assessment year 2011-12 were dismissed by the Tribunal. The appeals were found invalid post initiation of Corporate Insolvency Resolution Process (CIRP), as the Managing Director became functus officio. The Tribunal emphasized the supremacy of the Insolvency and Bankruptcy Code, highlighting the prohibition of suits against the Corporate Debtor during the moratorium period. Parties were given liberty to seek recall of the order post-moratorium by impleading appropriate representatives. en-us Mon, 05 Dec 2022 00:00:00 +0530 Fri, 30 Dec 2022 14:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432193 The cross-appeals challenging the order under section 250 of the Income Tax Act for the assessment year 2011-12 were dismissed by the Tribunal. The appeals were found invalid post initiation of Corporate Insolvency Resolution Process (CIRP), as the Managing Director became functus officio. The Tribunal emphasized the supremacy of the Insolvency and Bankruptcy Code, highlighting the prohibition of suits against the Corporate Debtor during the moratorium period. Parties were given liberty to seek recall of the order post-moratorium by impleading appropriate representatives. Case-Laws Income Tax Mon, 05 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432193