JYOTI STRUCTURES LTD,MUMBAI vs. DCIT CEN CIR 7(2), MUMBAI

These appeals are filed by Jyoti Structures Limited, Mumbai for A.Y. 2010-11 to A.Y. 2016-17 being bunch of

The ld. DR submitted that these appeals are filed by the erstwhile Managing Director Mr. K R Thakur who is now functus officio as the Board of Directors existing erstwhile are not capable of contesting these appeals. Therefore, these appeals are not maintainable.

We have carefully considered the rival contentions and find that this company has undergone insolvency resolution and one Mr. Sharad Sanghi has submitted plan which was approved by the committee of creditors and the order of NCLT dated 27.03.2019. It is not ascertainable whether dues of Income Tax Department are part of resolution plan or not. The appeal is also filed by the erstwhile Managing Director who is no more authorized to contest the appeal. The present appeal is required to be reinstated, if at all the outstanding due of the Income Tax Department are part of corporate insolvency resolution plan. It is also not ascertainable that whether these

Accordingly, we dismissed all these 7 appeals as not maintainable. However, if the new management is of the opinion that dues of Income Tax Department are part of resolution plan and these appeals are required to be contested, liberty is given to reinstate these appeals duly signed by the person authorized to sign the return of income u/s. 140 of the Act. Appeals of the assessee would be reinstated from the date revised form number 36 are filed. The assessee is given liberty to file these appeals within 90 days from the date of these orders. In such circumstances, on application of the assessee, this order would be recalled.

Accordingly, all theses 7 appeals are dismissed as not maintainable.