HELIOS PHOTO VOLTAIC LTD.,NEW DELHI vs. DCIT, CIRCLE- 17(1), NEW DELHI

PER YOGESH KUMAR, U.S. JM: The present appeal is filed by the Assessee against the order of the Commissioner of Income Tax Appeal [‘Ld. CIT(A)’ for short] dated 05/10/2017 for the Assessment Year 2012-13. 2. The Ld. Counsel for the Assessee filed application for adjournment contending that the NCLT vide its order dated 11/01/2024 admitted the petition for commencement of Corporate Insolvency Resolution Process (‘CIRP’) against the Assessee under Section 7 of the Insolvency and Bankruptcy Code, 2016 (‘the Code’) and also declared moratorium in terms of Section 14 of the Code. The CIRP process is currency on- going and the matter is sub-judice before the Tribunal.

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3. We have gone through the order of the NCLT dated 11/01/2024
passed u/Section 7 of Insolvency and Bankruptcy Code 2016, wherein by admitting the application filed by the applicant a moratorium has been imposed. In view of the same, the present Appeal filed by the Assessee/Company is not maintainable, accordingly, Appeal filed by the Assessee is hereby dismissed with a liberty to the Assessee/Resolution Professional to file appropriate application for restoration of the Appeal, if so advised.
4. In the result, the appeal filed the Assessee is dismissed.
Order pronounced in the open court on 23rd May, 2025 (MANISH AGARWAL)
JUDICIAL MEMBER
Date:- 23.05.2025
R.N, Sr.P.S*