ITAT Chennai Dismissed Income Tax Appeal Due to Ongoing Insolvency Proceedings

Aban Offshore Limited Vs DCIT (ITAT Chennai) The Income Tax Appellate Tribunal, Chennai, dealt with two appeals filed by the assessee-company against assessment orders passed under section 143(3) read with section 254 of the Income Tax Act, 1961 for the assessment years 2013–14 and 2017–18. As both appeals involved identical facts and common issues, the Tribunal disposed of them through a common order. At the outset, the Tribunal noted that Corporate Insolvency Resolution Proceedings (CIRP) were pending against the assessee, and that the matter was seized by the National Company Law Appell...