ACIT, CENTRAL CIRCLE- 2, NEW DELHI vs. INTERNATIONAL RECREATION AND AMUSEMENT LTD., NEW DELHI

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ITA 994/DEL/2018Status: DisposedITAT Delhi12 January 2023AY 2014-152 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the appeals cannot proceed due to the overriding provisions of the Insolvency and Bankruptcy Code, 2016. The Revenue can revive the appeals after the moratorium period ends or the company is revived.

What were the facts?

The Revenue filed appeals against assessment orders for AYs 2012-13, 2013-14 & 2014-15. The assessee company is under liquidation, and a resolution plan has been approved.

What were the issues?

Whether the Income Tax Appellate Tribunal can proceed with appeals against a company undergoing liquidation under the Insolvency and Bankruptcy Code, 2016.

Which sections of the Income-tax Act were involved?

Section 153A,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH “C” DELHI

Before: SHRI KUL BHARAT & SHRI PRADIP KUMAR KEDIA

The captioned appeal has been filed by the Revenue against the consolidated order of the Commissioner of Income Tax (Appeals)-XXVIII, New Delhi [‘CIT(A)’ in short] dated 09.11.2017 arising from the assessment orders all dated 30.12.2016 passed under Section 153A r.w. Section 143(3) of the Income Tax Act, 1961 (the Act) concerning AYs 2012-13, 2013-14 & 2014-15.

2.

When the matter was called for hearing, none appeared for the assessee. It is seen from the record that multiple opportunities have been given to the assessee to defend its position. Consequently, the matter is proceeded ex-parte.

I.T.As No.992, 993 & 994/Del/2018 2

3.

Ld. DR for the Revenue submitted that the assessee-company is under liquidation process and resolution plan has been approved.

4.

In the light of the assertions made on behalf of the Revenue, the matter cannot proceed before the Tribunal in view of the overriding provisions of Insolvency and Bankruptcy Code, 2016. The Department shall be at liberty to revive the captioned appeal as and when the moratorium period is over or revival of company takes place. 6. In the result, the appeals of the Revenue are dismissed for statistical purposes. Order pronounced in the open Court on 12/01/2023.

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