2022 (9) TMI 749

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....hary, Judicial Member For the Assessee : Shri P. Murali Mohan Rao, CA For the Revenue : Shri Solge Jost Kottaram, CIT DR ORDER PER RAMA KANTA PANDA, AM : Aggrieved by the order dated 29.08.2019 passed by the learned Commissioner of Income Tax (Appeals)-3, Hyderabad ("Ld. CIT(A)"), in the case of M/s.Neueon Towers Ltd., (formerly known as M/s. Sujana Towers Limited) ("the assessee") ....

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....stitution of suits or continuation of pending suits or proceedings against the corporate debtor in any court of law or tribunal. In Ghanashyam Mishra And Sons (supra), it was held that, (i) That once a resolution plan is duly approved by the Adjudicating Authority under sub section (1) of Section 31, the claims as provided in the resolution plan shall stand frozen and will be binding on the Corpor....

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....olution plan, shall stand extinguished and no proceedings in respect of such dues for the period prior to the date on which the Adjudicating Authority grants its approval under Section 31 could be continued. 4. A reading of the provisions under section 13 and 14 of the Code along with the decision in Ghanashyam Mishra And Sons (supra), clearly shows that once the proceedings have commenced by i....