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Facts
The Revenue filed an appeal against the CIT(A)'s order for AY 2010-11. The assessee company was undergoing liquidation, with a provisional liquidator appointed in 2017, and proceedings transferred to NCLT.
Held
The Tribunal noted the absence of the assessee's representative for numerous hearings and that the matter was pending before the NCLT. Consequently, the Tribunal found no reason to keep the appeal pending.
Key Issues
Whether the appeal should be dismissed due to the assessee's non-appearance and pendency of proceedings before NCLT.
Sections Cited
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Income Tax Appellate Tribunal, DELHI
PER YOGESH KUMAR, U.S. JM:
1. The present appeal is filed by the Revenue against the Commissioner of Income Tax (Appeals)-42 (‘Ld. CIT(A)’ for short), New Delhi dated 21/12/2017 for the Assessment Year 2010-11.
None appeared for the Assessee. Considering the issue involved in the present Appeal we deem it fit to decide the Appeal on hearing the Ld. Department's Representative and perusing the material available on record.
Company was undergoing liquidation proceedings, a provisional liquidator was appointed in 2017. The Official Liquidator (OL) had control over the company's assets under liquidation and has already sold some assets, thereafter, the proceedings have been transferred to NCLT.
There is no representation from the side of the Assessee/official liquidator right from 03/11/2021 for nearly 20 hearings before us.
Considering the above fact that matter is pending before the NCLT as informed by the Ld. Department's Representative and in the absence of any submission or representation on the part of the Assessee/OL/Resolution Professional, we find no reason to keep the present appeal pending. Accordingly, the present Appeal filed by the Assessee is hereby dismissed with a liberty to the Revenue/parties to file appropriate application for restoration of the present Appeal, if so advised.
In the result, the appeal filed the Revenue is dismissed.