Once insolvency petition is admitted, moratorium effect is to be given to pending suits or proceedings as per section 14

Srei Equipment Finance Limited Vs Additional / Joint/ Deputy / Assistant CIT (Calcutta High Court) Facts- The appellant had filed the writ petition challenging the notice dated 23rd March, 2022 which is an opportunity granted to the assessee to show cause as to why the proposal made in the notice by way of giving effect to the order passed by the PCIT, Kolkata-II u/s. 263 should not be made against the appellant/assessee. The assessee had submitted their reply dated 26th March, 2022 in which the first contention raised by the assessee was that the proceedings are liable to be stayed since the ...