https://www.taxtmi.com/caselaws?id=446147 The Tribunal dismissed the revenue's appeals against the orders of the Commissioner (Appeals) due to the impact of insolvency proceedings. The respondent company, having undergone insolvency under the Insolvency and Bankruptcy Code, was taken over by another entity. The NCLT had approved a resolution plan that extinguished government dues, rendering the revenue's appeals infructuous. The Tribunal, referencing SC judgments, noted that government dues were not recoverable under the approved resolution plan, and thus, the appeals were dismissed without a conclusive finding based solely on the NCLT order. en-us Wed, 08 Nov 2023 00:00:00 +0530 Mon, 27 Nov 2023 07:15:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446147 The Tribunal dismissed the revenue's appeals against the orders of the Commissioner (Appeals) due to the impact of insolvency proceedings. The respondent company, having undergone insolvency under the Insolvency and Bankruptcy Code, was taken over by another entity. The NCLT had approved a resolution plan that extinguished government dues, rendering the revenue's appeals infructuous. The Tribunal, referencing SC judgments, noted that government dues were not recoverable under the approved resolution plan, and thus, the appeals were dismissed without a conclusive finding based solely on the NCLT order. Case-Laws Customs Wed, 08 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446147