ITAT Chennai Exempts Dissolved Company from Income Tax Assessment Proceedings

ACIT Vs Indus Mobile Distribution Pvt. Ltd. (ITAT Chennai) ITAT Chennai  in the case of ACIT Vs Indus Mobile Distribution Pvt. Ltd. exempts a dissolved company from Income Tax Assessment proceedings, in accordance with Section 54(2) of the Insolvency and Bankruptcy Code, 2016. M/s. Indus Mobile Distribution Pvt. Ltd., the Assessee Company, was dissolved by the National Company Law Tribunal (NCLT), Chennai Bench, following Section 54(2) of the Insolvency and Bankruptcy Code, 2016. This led to the dissolution of the corporate debtor, namely the appellant company. Despite the company being offic...