Revenue Appeal Barred during Moratorium

The ITAT, Delhi dismissed the Revenue's appeal after noting that the assessee had been admitted into CIRP by the NCLT. 

Relying on Section 14 read with Section 238 of the Insolvency and Bankruptcy Code and the Supreme Court's decision in PCIT v. Monnet Ispat & Energy Ltd., the Tribunal held that continuation of income-tax proceedings against the corporate debtor is barred during the period of moratorium.