Issue Guideline to deal with pending cases after IBC Proceedings initiation- CESTAT to CBIC

Ultratech Nathdwara Cement Limited Vs C.C. Jamnagar (Prev) (CESTAT Ahmedabad) CESTAT observed that IBC proceedings are being initiated against many companies who are either appellant or respondent in the appeals pending before this tribunal. We observed that the revenue-department has no proper guideline as to what stand is to be taken in a case where the IBC proceedings is in progress before NCLT/NCLAT or at higher forum. The assessee against whom the IBC proceedings are initiated invariably approach this tribunal through miscellaneous application for disposing of the appeals in the light of ...