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2024 (2) TMI 623 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH , NEW DELHI - LBCIRP - Approval of resolution plan - Entitlement to carry forward accumulated losses as per Section 79(2) of the Income Tax Act - Adjudicating Authority has issued direction to the Successful Resolution Application to approach the concerned statutory authority for the concessions - HELD THAT:- In event the Appellant is entitled for benefit of Section 79(2) to carry forward accumulated losses, it shall be open for the Appellant to file an appropriate application before the competent jurisdictional Income Tax Authority to claim the benefit - thus, no error has been committed by the Adjudicating Authority by directing the Successful Resolution Application to approach the concerned statutory authority. In so far as, other reliefs and concessions, the Adjudicating Authority has allowed the application and direction has been issued in Para 13 and 14. In fact, virtually, the application has been allowed by the Adjudicating Authority, hence, there are no reason to entertain this Appeal challenging the second part of the order as contained in Para 14. The directions are only for the purpose that the Corporate Debtor may carry on the business in accordance with law - there are no ground to interfere in the impugned order - appeal dismissed.
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