ACIT-6(1)(2), MUMBAI, MUMBAI vs. NIRJALA TELEHOLDINGS LTD, THANE
IN THE INCOME TAX APPELLATE TRIBUNAL, ‘B’ BENCH
MUMBAI
BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER
&
SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER
ITA No.1557/Mum/2025 & 1558/Mum/2025
(Assessment Year :2006-07 & 2007-08)
ACIT- 6 (1)(2),
Maharashtra- 400 605
PAN/GIR No.AAACS4448K
(Appellant)
..
(Respondent)
Assessee by None
Revenue by Shri Vaibhav Jain, CIT DR
Date of Hearing
10/11/2025
Date of Pronouncement
12/11/2025
आदेश / O R D E R
PER AMIT SHUKLA (J.M):
These two appeals have been preferred by the Revenue against separate impugned orders, both dated 10 December
2024, passed by the National Faceless Appeal Centre (NFAC),
Delhi, pertaining to the assessments framed under section 143(3) of the Income-tax Act, 1961 for the assessment years
2006-07 and 2007-08. 2. At the threshold of hearing, the learned Departmental
Representative drew our attention to the significant
ITA No.1557 & 1558/Mum/2025
Nirjala Teleholdings Limited
2
development that the respondent-company,
Nirjala
Teleholdings Limited, has been admitted into the Corporate
Insolvency Resolution Process (CIRP) under section 7 of the Insolvency and Bankruptcy Code, 2016, by an order of the Hon’ble National Company Law Tribunal (NCLT), Special
Bench, Chennai, dated 13 April 2023. It was pointed out that, upon such admission, the moratorium contemplated under section 14(1) of the Code came into immediate effect, thereby suspending all proceedings against the corporate debtor, including those before judicial, quasi-judicial, or arbitral authorities.
3. We have carefully perused the said order of the NCLT.
Paragraph 40 thereof makes it abundantly clear that the application of the financial creditor under section 7(5) of the Code has been admitted, and that the moratorium stipulated under section 14(1) has commenced from the very date of that order. The relevant portion of the NCLT’s direction reads as under:
“Based on the above terms, the application stands admitted in terms of section 7(5) of the IBC, 2016 and the moratorium shall come into effect as of this date. A copy of the order shall be communicated to the Financial Creditor as well as to the Corporate Debtor by the Registry. In addition, a copy shall be forwarded to the Insolvency and Bankruptcy Board of India
(IBBI) for its records and to the Interim Resolution Professional, who shall forthwith communicate the initiation of the CIRP in relation to the Corporate Debtor to the