Charanbir Singh Sethi & Amrit Pal Singh Chadha vs ACIT, Central Circle-19
Parties Involved
Facts Summary
These are appeals preferred by the Assessee against the orders of the Ld. Commissioner of Income-tax (Appeals) in appeals filed before him against the orders of the Ld. Assessing Officer passed u/s 143(1) of the Income-tax Act, 1961. The cases were heard together as common questions of law and facts are involved. The assessees have been party to proceedings u/d 117/ 119 of the Insolvency & Bankruptcy Code, 2016 (IBC Code) and have been discharged by NCLT Delhi. The department has not made any claim in the insolvency proceedings, hence the present claim of the department has become redundant.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the claim of the department under the impugned assessment stands non-est and unenforceable after the discharge orders by NCLT.
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
5 precedents cited in this judgement.
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