No proceedings shall be initiated, when NCLT granted moratorium against CD u/s 14 of IBC: ITAT dismisses Appeal [Read Order]

By Aparna. M - On January 6, 2024 12:32 pm - 2 mins read
No proceedings - NCLT - moratorium - CD - IBC - ITAT - Appeal - TAXSCAN

The Income Tax Appellate Tribunal (ITAT), Delhi bench held that no proceedings should be initiated when the National Company Law Tribunal (NCLT) granted a moratorium against corporate debtors under Section 14 of the Insolvency and Bankruptcy Code, 2016. Hence, the bench dismissed the appeal filed by the revenue against the assessee. The assessee, Rapid Buildwell…

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