RELIANCE HOME FINANCE LIMITED,LOWER PAREL, MUMBAI vs. PR. COMMISSIONER OF INCOME TAX-8, CHURCHGATE, MUMBAI

ITA 1759/MUM/2026Status: DisposedITAT Mumbai08 September 2026AY 2017-188 pages
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What were the facts?

The assessee's appeal challenges an order passed by the Principal Commissioner of Income Tax (PCIT) under Section 263 of the Income Tax Act. The assessee argued that the PCIT's order was invalid because it was passed during a moratorium period declared under the Insolvency and Bankruptcy Code (IBC) after the National Company Law Tribunal (NCLT) admitted an application against the assessee.

What did the Tribunal hold?

The Tribunal held that proceedings under the Income Tax Act, including revisional proceedings under Section 263, cannot be initiated or continued during the moratorium period under Section 14 of the IBC. The impugned revisional order was set aside, and the matter was restored to the PCIT to be revived after the cessation of the moratorium.

What were the issues?

Whether an order passed under Section 263 of the Income Tax Act is valid if it is passed during the moratorium period declared under Section 14 of the IBC. Whether the IBC overrides the provisions of the Income Tax Act in such circumstances.

Which sections of the Income-tax Act were involved?

Section 263,Section 147,Section 144B,Section 7,Section 14,Section 238

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI

Before: SHRI ANIKESH BANERJEE & SHRI ARUN KHODPIA

For Respondent: Ms. Sandeep Lakra, CIT DR

PER: SHRI ANIKESH BANERJEE, (JM): The instant appeal of the assessee filed against the order of the Ld. Principal Commissioner of Income Tax, Mumbai – 8 [for brevity “Ld. PCIT”], order passed under Section 263 of the Income Tax Act, 1961 (for brevity ‘theAct’), for Assessment Year 2017-18, date of order 12.12.2025. The ITA 1759/MUM/2026

impugned order emanated from the order of the Assessment Unit, I

The order continues below.

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