VIKAS WSP LIMITED,DELHI vs. DCIT, CIRCLE HISSAR, HISSAR

ITA 4326/DEL/2025Status: DisposedITAT Delhi15 July 2026AY 2018-197 pages
AI SummaryRemanded

What were the facts?

The assessee company was undergoing Corporate Insolvency Resolution Process (CIRP) with a moratorium in effect. The Assessing Officer completed the assessment and made an addition under Section 68, and the CIT(A) confirmed this. The assessee's appeal was delayed due to non-service of the order and the moratorium.

What did the Tribunal hold?

The Tribunal held that once a moratorium is declared under Section 14 of the IBC, proceedings like the impugned assessment and appeal are prohibited. The Tribunal followed a precedent where similar matters were remanded to the Assessing Officer to take necessary steps under Section 156A of the Act.

What were the issues?

Whether assessment proceedings and appeals can continue against a corporate debtor during a moratorium period under the IBC, and the applicability of Section 156A of the Income Tax Act in such cases.

Which sections of the Income-tax Act were involved?

Section 14,Section 68,Section 156A,Section 238,Section 250

AI-generated summary — verify with the full judgment below

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

Before: SHRI SATBEER SINGH GODARA & SHRI SANJAY AWASTHI

For Appellant: Shri Sameer Kapoor, CA
For Respondent: Shri Bhopal Singh, CIT DR
Hearing: 02.07.2026

PER SANJAY AWASTHI, ACCOUNTANT MEMBER:

1.

In this case, the assessee has filed an application for condoning the delay in the filing of appeal, through which the reasons for delay have been laid out in great detail. For the sake of capturing the main reasons some parts from the said petition are extracted as under: -

“1. The Appellant, Vikas WSP Ltd., is undergoing the Corporate Insolvency Resolution Process (CIRP) as per provisions of insolvency & Bankruptcy Code, 2016 since 02.02.2022. In the matter of

The order continues below.

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