https://www.taxtmi.com/caselaws?id=794419 Appeals against additions for earlier assessment years lost practical efficacy after the corporate debtor underwent CIRP, liquidation, sale as a going concern and closure of liquidation under the IBC. The liquidation process had been completed, the successful bidder paid the full consideration, and the NCLT directed that pre-transfer liabilities be addressed within the liquidation waterfall under Section 53. Because those orders were neither stayed nor set aside, the income-tax appeals could not proceed on a basis inconsistent with the completed insolvency process. The appeals were therefore treated as infructuous, with no effective adjudication surviving against the corporate debtor in its present form. en-us Wed, 01 Jul 2026 00:00:00 +0530 Sat, 04 Jul 2026 08:15:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794419 Appeals against additions for earlier assessment years lost practical efficacy after the corporate debtor underwent CIRP, liquidation, sale as a going concern and closure of liquidation under the IBC. The liquidation process had been completed, the successful bidder paid the full consideration, and the NCLT directed that pre-transfer liabilities be addressed within the liquidation waterfall under Section 53. Because those orders were neither stayed nor set aside, the income-tax appeals could not proceed on a basis inconsistent with the completed insolvency process. The appeals were therefore treated as infructuous, with no effective adjudication surviving against the corporate debtor in its present form. Case-Laws Income Tax Wed, 01 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794419