https://www.taxtmi.com/caselaws?id=433889 The appeal against the order of the Commissioner of Income Tax (Appeals) was dismissed by the National Company Law Appellate Tribunal due to the ongoing Corporate Insolvency Resolution Proceedings (CIRP) under the Insolvency and Bankruptcy Code, 2016. The Tribunal emphasized that once a resolution plan is approved by the Adjudicating Authority, the claims provided in the plan become binding on the corporate debtor and stakeholders, leading to the dismissal of the appeal. The appellant was advised to pursue remedies before the Adjudicating Authority based on the outcome of the CIRP proceedings. en-us Wed, 09 Nov 2022 00:00:00 +0530 Mon, 13 Feb 2023 10:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433889 The appeal against the order of the Commissioner of Income Tax (Appeals) was dismissed by the National Company Law Appellate Tribunal due to the ongoing Corporate Insolvency Resolution Proceedings (CIRP) under the Insolvency and Bankruptcy Code, 2016. The Tribunal emphasized that once a resolution plan is approved by the Adjudicating Authority, the claims provided in the plan become binding on the corporate debtor and stakeholders, leading to the dismissal of the appeal. The appellant was advised to pursue remedies before the Adjudicating Authority based on the outcome of the CIRP proceedings. Case-Laws Income Tax Wed, 09 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433889