M TECH DEVELOPERS PVT. LTD.,NEW DELHI vs. DCIT, CIRCLE- 16(1), NEW DELHI

PDF · subscribers
ITA 7771/DEL/2018Status: DisposedITAT Delhi09 February 2023AY 2009-102 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that the NCLT order rendered the assessee's appeal infructuous. Consequently, the appeal filed by the assessee was dismissed.

What were the facts?

The assessee filed an appeal against the order of the CIT(A). The National Company Law Tribunal (NCLT) had passed an order approving a Resolution Plan. This NCLT order stated that all pending proceedings related to the corporate debtor would stand withdrawn, satisfied, and discharged.

What were the issues?

The primary issue was whether the appeal was still maintainable in light of the NCLT's order approving a Resolution Plan which discharged all pending proceedings.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHIBENCH ‘E’, NEW DELHI

Before: Dr. B. R. R. KumarSh. Yogesh Kumar US

For Respondent: Ms. Sarita Kumari, CIT DR
Hearing: 06.12.2022Pronounced: 09.02.2023

Per Dr. B. R. R. Kumar, Accountant Member:

1.

The present appeal has been filed by the assessee against the order of ld. CIT(A)-42, New Delhi dated 12.09.2018.

2.

At the outset, it was brought to our notice that the order of NCLT dated 31.03.2022, the para no. 26 of the said order reads as under:

“26. The SRA has prayed for the reliefs and concessions as enumerated under the Resolution Plan approved by the CoC. From the plan approval date all inquiries, investigation and proceedings, whether civil or criminal, suits, claims, disputes, interests and damages in connection with the Corporate Debtor or the affairs of the Corporate Debtor, pending or threatened, present or future in relation to any period prior to the plan approval date, or arising on account of implementation of this Resolution Plan, shall stand

2 M Tech Developers Pvt. Ltd. withdrawn, satisfied and discharged. From the date of approval of the ‘Resolution Plan’, the Resolution Applicant shall be legally authorized to seek appropriate orders from respective authorities / courts/tribunals for renewal of licenses/withdrawal/dismissal or abetment of the proceedings as the case may be.”

3.

Owing to this, the appeal of the assessee becomes infructuous.

4.

In the result, the appeal of the assessee is dismissed. Order Pronounced in the Open Court on 09/02/2023.

Recent GST High Court judgments

Search GST case law →