WORLDS WINDOW IMPEX INDIA PVT. LTD,NEW DELHI vs. ACIT, SPL, RANGE-9, NEW DELHI

PDF · subscribers
ITA 3429/DEL/2019Status: DisposedITAT Delhi23 August 2022AY 2014-153 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 assessee is estopped from pursuing the appeal due to the overriding provisions of the Insolvency and Bankruptcy Code, 2016. The appeal was dismissed with liberty to revive it later.

What were the facts?

The assessee filed an appeal before the ITAT. Subsequently, an application for liquidation was filed against the assessee before the National Company Law Tribunal, which admitted the application and declared a moratorium.

What were the issues?

Whether an appeal before the ITAT can be pursued when a moratorium has been declared under the Insolvency and Bankruptcy Code, 2016.

Which sections of the Income-tax Act were involved?

Section 14,Section 238

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(1)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

Income Tax Appellate Tribunal, DELHI BENCH “F” NEW DELHI

Before: SHRI C.M GARG & SHRI PRADIP KUMAR KEDIA

For Appellant: Ms. Sapna Bhatia, CIT DR
Hearing: 23.08.2022

आदेश/O R D E R PER PRADIP KUMAR KEDIA, AM:

1.

The captioned appeal has been filed at the instance of the assessee against the order of the Addl. Commissioner of Income Tax, Special, Range-9, New Delhi dated 25.02.2019 concerning AY 2014- 15.

2.

When the matter was called for hearing the ld. Counsel for the assessee pointed out that an application for liquidation has been filed before the National Company Law Tribunal, New Delhi Bench by the Financial creditor namely State Bank of India. The application moved by SBI under section 7 of the code for alleged has been admitted and the Delhi Bench by its order dated 23.12.2021 have declared moratorium in terms of section 14 of the Insolvency and Bankruptcy Code, 2016 as per para 15 of its order.

3.

The Ld. Counsel accordingly submitted that the present appeal in such circumstances cannot be pursued in view of the overriding provisions of insolvency code but however, prayed for liberty to revive the captioned appeal as and when the moratorium period is over or revival of company takes place.

4.

The Ld. DR for the revenue did not express any objection to such plea of the assessee.

5.

In the light of statutory provision and in the light of decision of the Hon'ble Supreme Court in the case of Pr. CIT Vs. Monnet Ispat and Energy Limited (2019) 107 taxmann.com 481 and also in the light of the overriding provision of the code in terms of section 238 of the Act, the assessee is estopped to pursue the captioned appeal.

6.

For such reasons, the appeal of the assessee is dismissed with a liberty to the assessee to seek remedial measures in accordance with law as and when the moratorium period is over or revival of the assessee company takes place.

7.

In the result, the appeal of the assessee stands dismissed. This Order pronounced on 23/08/2022

More judgments on Section 14

All 685 judgments and leading authorities on Section 14 →

Recent GST High Court judgments

Search GST case law →