Reassessment for Pre-CIRP Period Quashed as Resolution Plan Bars Fresh Tax Proceedings

ACIT Vs Delhi Control Devices Private Limited (ITAT Delhi) In ACIT Vs Delhi Control Devices Private Limited, the Income Tax Appellate Tribunal (ITAT), Delhi, dismissed the Revenue’s appeal against the order of the Commissioner of Income Tax (Appeals) [CIT(A)] dated 24 July 2025 concerning Assessment Year (AY) 2018–19. The reassessment order had been passed on 1 March 2024 under sections 147 read with 144B of the Income Tax Act, 1961. The Revenue challenged the CIT(A)’s decision on several grounds, arguing that the reassessment proceedings were wrongly held invalid merely because they w...