Dissolved Company Exempted from Income Tax Assessment Proceedings u/s 54(2) of IBC: ITAT [Read Order]

Dissolved Company - Income Tax - Income Tax Assessment Proceedings - IBC - ITAT - taxscan

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) recently ruled that the dissolved company is exempt from Income Tax Assessment proceedings under Section 54(2) of the Insolvency and Bankruptcy Code, 2016. The Assessee Company, M/s. Indus Mobile Distribution Pvt. Ltd., was dissolved by the National Company Law Tribunal (NCLT), Chennai Bench, using the…

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