https://www.taxtmi.com/caselaws?id=782627 ITAT Delhi dismissed the Revenue's appeal and upheld the CIT(A)'s order in toto. On the issue of carry forward of losses, the Tribunal affirmed the CIT(A)'s direction to allow the assessee company to carry forward losses, holding that section 79(2)(c) was not violated in the circumstances arising from the NCLT-approved resolution under the IBC. Additionally, the Tribunal sustained the disallowance of employees' PF and ESI contributions, following the binding precedent of the SC in Checkmate Services, and rejected the assessee's claim for deduction. The appeal was also independently liable to dismissal due to nil tax effect in view of CBDT Circular No. 9/2024. en-us Thu, 30 Oct 2025 00:00:00 +0530 Tue, 02 Dec 2025 08:35:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782627 ITAT Delhi dismissed the Revenue's appeal and upheld the CIT(A)'s order in toto. On the issue of carry forward of losses, the Tribunal affirmed the CIT(A)'s direction to allow the assessee company to carry forward losses, holding that section 79(2)(c) was not violated in the circumstances arising from the NCLT-approved resolution under the IBC. Additionally, the Tribunal sustained the disallowance of employees' PF and ESI contributions, following the binding precedent of the SC in Checkmate Services, and rejected the assessee's claim for deduction. The appeal was also independently liable to dismissal due to nil tax effect in view of CBDT Circular No. 9/2024. Case-Laws Income Tax Thu, 30 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782627