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Income Tax Appellate Tribunal, DELHI BENCH ‘E’, NEW DELHI
Before: SH. N. K. BILLAIYA & SH. YOGESH KUMAR US
Appellant Sh. Vivek Sharma, CIT DR Respondent Sh. V. K. Jain, CA Date of hearing: 04/08/2022 Date of Pronouncement: 04/08/2022 ORDER
PER N.K. BILLAIYA, AM:
This appeal by the revenue is preferred against the order of the CIT(A)-6, Delhi dated 18.02.2019 pertaining to A.Y.2015-16.
The grievance of the revenue read as under :-
At the very outset the Counsel for the assessee drew our attention to the decision of this Tribunal in assessee’s own case for A.Y.2013-14 and A.Y.2005-06 to 2007-08. It is the say of the Counsel that as per section 5 (21) of the IBC the dues to the Central Government also fall within the definition of operational debts and in terms of resolution plan as approved by the NCLT of the claims or demands or liabilities or obligations owned or payable to or assessed or assessable by the Central Government/ State Government in relation to any period or prior to the acquisition will be written off in full and will be deemed to be permanently extinguished. The counsel stated that pursuant to the order of the NCLT this Tribunal in earlier assessment years have dismissed the appeal of the revenue.
Per contra the DR could not bring any distinguishing feature for the present appeal.
We have carefully considered the orders of the authorities below and have also considered the decision of this Tribunal in for A.Y.2013-14 and ITA No.6961 to 6963/Del/2017 for A.Y.2005-06 to 2007-08. The relevant findings of the coordinate Bench read as under :-
In the light of the above this appeal by the revenue is dismissed.
Decision announced in the open court on 04.08.2022.