https://www.taxtmi.com/caselaws?id=753248 The ITAT Mumbai dismissed the assessee's appeal as not maintainable due to pending liquidation proceedings. The tribunal held that IBC 2016 provisions prevail over the Income Tax Act 1961, but tax authorities retain limited jurisdiction to assess and determine tax dues during moratorium, though cannot initiate recovery. The CIT(A) erred by not adjudicating the penalty matter under section 271 for failure to audit accounts under section 44AB merely due to liquidation proceedings. Since the liquidator was pursuing the matter and no legal impediments existed for determining tax dues, the case was restored to CIT(A) for adjudication on merits. en-us Mon, 27 May 2024 00:00:00 +0530 Wed, 29 May 2024 08:32:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753248 The ITAT Mumbai dismissed the assessee's appeal as not maintainable due to pending liquidation proceedings. The tribunal held that IBC 2016 provisions prevail over the Income Tax Act 1961, but tax authorities retain limited jurisdiction to assess and determine tax dues during moratorium, though cannot initiate recovery. The CIT(A) erred by not adjudicating the penalty matter under section 271 for failure to audit accounts under section 44AB merely due to liquidation proceedings. Since the liquidator was pursuing the matter and no legal impediments existed for determining tax dues, the case was restored to CIT(A) for adjudication on merits. Case-Laws Income Tax Mon, 27 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753248