ITAT Dismisses Appeal as Infructuous Following NCLT Approval of Resolution Plan

PCIT Vs Srei Infrastructure Finance Limited (Calcutta High Court) In the case of PCIT Vs Srei Infrastructure Finance Limited, the Calcutta High Court addressed an appeal by the Income Tax Department challenging the Income Tax Appellate Tribunal’s (ITAT) order. The appeal, filed under Section 260A of the Income Tax Act, contested various issues including deductions related to transfer of voting rights, assignment of equity shares, and short-term capital gains. The department argued that the ITAT erred in its rulings on these matters. However, the respondent company’s resolution plan had bee...