DCIT, CIRCLE, BHILWARA vs. M/S. SUZUKI TEXTILES LTD., BHILWARA

ITA 151/JODH/2018Status: DisposedITAT Jodhpur12 October 2023AY 2014-155 pages
AI SummaryAbated

What did the Tribunal hold?

The Tribunal decided to abate the appeal proceedings until the Resolution Professional, appointed as Head of the Monitoring Committee by the NCLT, appoints an Authorized Representative to defend the case. The Revenue retains the right to proceed with recovery of demand as per law.

What were the facts?

The Revenue filed an appeal against the CIT(A)'s order deleting certain disallowances and additions. The assessee's application before the NCLT for a resolution plan was approved with specific observations regarding pending legal proceedings.

What were the issues?

Whether pending legal proceedings are abated or can continue after NCLT approval of a resolution plan, and the need for representation in such proceedings.

Which sections of the Income-tax Act were involved?

Section 36(1)(va)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, JODHPUR BENCH, JODHPUR

Before: DR. M. L. MEENA & SH. ANIKESH BANERJEE

Hearing: 10.10.2023Pronounced: 12.10.2023

Per Dr. M. L. Meena, AM:

This captioned appeal has been filed by the Revenue against the order of the ld. Commissioner of Income Tax (Appeals), Ajmer dated 30.01.2028 in respect of Assessment Year 2014-15 challenging therein multiple issues, etc.

2 DCIT v. Suzuki Textiles Ltd.

2.

The assessee has raised the following grounds of appeal:

“On facts and in law, the ld. CIT(A), Ajmer erred in:-

3.

deleting the disallowance of late deposit of employee’s contribution towards PF & ESI amounting to Rs.1,91,80,121/- made by the AO u/s 36(1)(va) of the I.T. Act, 1961 without appreciating the facts of the case;

4.

deleting the addition made on account of unsecured loans of Rs.

The order continues below.

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