What did the Tribunal hold?

The Tribunal held that the appeal was not maintainable as it was filed by the Managing Director at a time when the company was ordered to be wound up by the National Company Law Tribunal. The appeal should have been preferred by the liquidator or IRP.

The assessee company was in appeal before the ITAT. During the hearing, the revenue representative informed the bench that notices to the assessee were unserved and the company was undergoing insolvency resolution and winding up proceedings.

What were the issues?

Maintainability of an appeal filed by a company that has been ordered to be wound up.

India Tourist and Heritage… vs DCIT | ITAT Mumbai 2023

Income Tax Appellate Tribunal, “C” BENCH, MUMBAI

Before: SHRI PRASHANT MAHARISHI, AM & SHRI NARENDER KUMAR CHOUDHRY, JM

For Respondent: Shri H.M. Bhatt, DR

Hearing: 09.08.2023Pronounced: 10.08.2023

India tourist and Heritage Village private limited (assessee /appellant) for A.Y. 2013-14, against the appellate order passed by the Commissioner of income tax (appeals) – 50 [the learned CIT (A)], Mumbai dated 27th October, 2017 wherein the appeal filed by the assessee against assessment order passed under section 143 (3) of the Income-tax Act, 1961 (the Act) dated 23rd March, 2016 by the Assistant Commissioner of income tax (the learned AO) was dismissed. Therefore, assessee is in appeal before us as

At the time of hearing the learned Departmental Representative informed the bench that the notices sent to the above assessee are getting returned as unserved. He further referred to the letter dated January 11, 2023 filed by the assessee to the bench where the adjournment was requested. It was mentioned therein that the company is undergoing the Insolvency resolution process and has filed an application for winding up before the National company law Tribunal under section 361 of the Companies Act, 2013. He submitted that therefore assessee is not represented on several occasions.

We have verified our record and also find that the proceedings of the winding up in case of the company are going on. We find that the National company law Tribunal, Mumbai bench – I in CA number 636/MB/2022 in CP number 3638/MB/2018 dated 31/3/2023 has ordered the winding up of the above mentioned appellant. The present appeal is filed by the managing director at that time. Thus at present the appeal is not maintainable as it should have been preferred either by the liquidator or by the Insolvency Resolution Professional as per provision of section 140( c) of the Act . On reading of the order of the National Company Law Tribunal, it is clear that assessee is an investment vehicle for making an investment in various project. The assessee was incorporated on 4th June 2008, wherein 100 % equity share capital of the assessee were

In the result, appeal filed by the assessee is dismissed.

Order pronounced in the open court on 10.08.2023.

INDIA TOURIST AND HERITAGE VILLAGE PVT. LTD.,MUM vs. D.C.I.T. CENT. CIR. -8(1), MUMBAI

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