ITAT Delhi quashes assessment on Company under Liquidation – IBC moratorium overrides Income Tax Proceedings

Hi Tech Grain Processing Private Limited-In Liquidation Vs DCIT (ITAT Delhi)

ITAT Delhi quashes assessment on Company under Liquidation – IBC moratorium overrides Income Tax Proceedings

Delhi ITAT quashed assessments framed against a company which was already under liquidation, holding that the moratorium & liquidation provisions contained in the Insolvency & Bankruptcy Code, 2016 override the Income Tax Act.

Assessee had filed return of income for AY 2013-14 declaring total income of Rs.5.63 crore. Subsequently, the case wa

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