ROLTA INDIA LTD,MUMBAI vs. DY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(1) , MUMBSI

Rolta India Ltd for A.Y. 2018-19 against the assessment order passed by the Dy. Commissioner of Income Tax, Central Circle, 1(1), Mumbai, dated 25th July, 2022, wherein the total income return of income on 29th November, 2019, at ₹ Nil, was assessed at ₹401,85,41,957/-.

However, we find that by order dated 19th January, 2023, of the National Company Law Tribunal, Mumbai Bench in case of Union Bank of India Vs. Rolta India Ltd. has passed an order admitting the corporate insolvency proceedings against the assessee. This appeal is filed by the assessee through director of the company namely Mr. Kamal K Singh. Despite appointment of the Insolvency Resolution Professional, form no 36 is not replaced. Only IRP could have prosecuted this appeal or reinstated this appeal before the Tribunal. In terms of the Provisions of Section 140(c) (c) of the Act, this appeal should have been reinstated / filed by the IRP. Therefore, at present the appeal verified by one of the erstwhile director of the assessee is not maintainable. Therefore, this appeal is dismissed. However, the assessee is given an liberty that IRP after due process of law may amend memorandum of appeal and furnish it before the Tribunal, with a request for recall of this order, it may be recalled. Accordingly, the appeal of the assessee is dismissed as not maintainable.

In the result, the appeal of the assessee is dismissed.