Income Tax Appeals Dismissed Due to NCLT Moratorium Against Personal Guarantors

Shefali Bansa Vs DCIT (ITAT Delhi) The assessees’ appeals against search assessments under section 153A/143(3) for AYs 2013-14 and 2014-15 were not examined on merits because of a supervening insolvency development. As noted from the NCLT order dated 08.01.2026 (referred to on page 3 of the Tribunal order), insolvency proceedings were admitted against the assessees in their capacity as personal guarantors, and a statutory moratorium of 180 days was imposed. During this moratorium, all legal proceedings in respect of debts against the applicants stand stayed and creditors are barred from init...