AO can determine tax liabilities even during insolvency proceedings: ITAT Mumbai

ACIT Vs MITC Metals Private Limited (ITAT Mumbai) Income Tax Appellate Tribunal (ITAT) Mumbai has set aside the order of the Commissioner of Income Tax (Appeals) [CIT(A)] in the case of ACIT vs. MITC Metals Pvt. Ltd., ruling that the assessment order was not void ab-initio. The dispute pertained to the assessment year 2014-15, where CIT(A) had invalidated the assessment order, citing the initiation of the Corporate Insolvency Resolution Process (CIRP) against the company. The revenue department challenged this decision, arguing that the assessing officer (AO) was not barred from determining ta...