Delhi HC Closes Writ Amid NCLT’s Corporate Insolvency Resolution Process

CIT Vs Income Tax Settlement Commission & Anr. (Delhi High Court) Introduction: The Delhi High Court recently closed a writ petition in the case of CIT vs. Income Tax Settlement Commission & Anr. The petitioner, the Revenue, faced rejection of its claim with the Resolution Professional (RP) amid the ongoing Corporate Insolvency Resolution Process (CIRP) before the National Company Law Tribunal (NCLT). The court’s decision was influenced by the operative moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016. Detailed Analysis: The writ petition was presented by M...