HC dismisses Tax Appeals against Taxpayer in view of Liquidation Proceedings

PCIT Vs Moser Baer India Ltd. (Delhi High Court) A perusal of the aforesaid order of Apex Court in Civil Appeal No.4705/2014 makes it clear that the respondent company Moser Baer India Ltd. is not financially viable and is in liquidation before NCLT. The order also makes it clear that even if the Revenue were to succeed, the Official Liquidator would not be in a position to pay the tax amount involved in these appeals. Thus, even if the appellant-department succeeds in the present appeal, there would be no fructifying effect as the respondent company, which is under liquidation, would not be a...