Revenue’s appeal dismissed as NCLT admitted application filed u/s 14 of IBC

ACIT Vs Dharitrimaa Urja Pvt. Ltd. (ITAT Delhi) ITAT Delhi held that as National Company Law Tribunal (NCLT) has admitted application filed by the assessee u/s. 14 of the Insolvency and Bankruptcy Code, 2016, the present appeal filed by the revenue deserves to be dismissed. Facts- Revenue has preferred the present appeal contesting that CIT(A) has erred in law and on the facts of the case in deleting the addition made by the AO on account of share premium received u/s. 56(2) (viib) of Income Tax Act, 1961. Conclusion- Held that considering the fact that the NCLT in IB-408 (ND-2022) vide order ...