https://www.taxtmi.com/caselaws?id=758707 The ITAT Mumbai dismissed appeals filed by a company undergoing corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. The tribunal held that section 14 of the Code prohibits continuation of pending proceedings against corporate debtors during moratorium period, which extends from the order date until completion of the resolution process. The assessee failed to obtain permission from the National Company Law Tribunal or file proper authorization from the insolvency resolution professional. Citing SC precedent in Alchemist Asset Reconstruction case, the tribunal ruled such proceedings cannot continue during moratorium. Appeals were dismissed with liberty to refile after moratorium period ends. en-us Mon, 26 Feb 2024 00:00:00 +0530 Tue, 17 Sep 2024 12:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758707 The ITAT Mumbai dismissed appeals filed by a company undergoing corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. The tribunal held that section 14 of the Code prohibits continuation of pending proceedings against corporate debtors during moratorium period, which extends from the order date until completion of the resolution process. The assessee failed to obtain permission from the National Company Law Tribunal or file proper authorization from the insolvency resolution professional. Citing SC precedent in Alchemist Asset Reconstruction case, the tribunal ruled such proceedings cannot continue during moratorium. Appeals were dismissed with liberty to refile after moratorium period ends. Case-Laws Income Tax Mon, 26 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758707