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

PDF · subscribers
ITA 7019/MUM/2017Status: DisposedITAT Mumbai16 February 2023AY 2013-144 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the appeals were not maintainable as they were filed by an unauthorized person. However, liberty was granted to the new management to reinstate the appeals if they deemed it necessary and authorized.

What were the facts?

The assessee company, Jyoti Structures Ltd, had undergone insolvency proceedings and a resolution plan was approved. The appeals were filed by the erstwhile Managing Director, who was no longer authorized to represent the company. The new management had taken over.

What were the issues?

The primary issue was the maintainability of the appeals due to the change in management and the authority of the signatory. It was also unclear if the Income Tax dues were part of the approved resolution plan.

Which sections of the Income-tax Act were involved?

Section 140

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “K” BENCH, MUMBAI

Before: SHRI PRASHANT MAHARISHI, AM & SHRI RAHUL CHAUDHARY, JM

For Appellant: Ms. Shalini, Ms. Midhat Khan
For Respondent: Ms. Samruddhi Hande, Sr.AR
Hearing: 14.02.2023Pronounced: 16.02.2023
1.

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

2.

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.

3.

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

4.

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.

5.

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

Order pronounced in the open court on 16.02.2023.

More judgments on Section 140

All 100 judgments and leading authorities on Section 140 →

Recent GST High Court judgments

Search GST case law →