NARAYAN INDUSTRIES GLOBAL LIMITED,NEW DELHI vs. DCIT CIRCLE 16(1), DELHI

ITA 8422/DEL/2025Status: DisposedITAT Delhi24 September 2026AY 2016-178 pages
AI SummaryAllowed

What were the facts?

The assessee company was undergoing Corporate Insolvency Resolution Process (CIRP) and a moratorium was declared. Despite this, the Assessing Officer passed an assessment order. The assessee argued that this order was illegal as it was passed during the moratorium period.

What did the Tribunal hold?

The Tribunal held that the assessment order passed by the Assessing Officer was illegal and bad in law as it was passed after the declaration of moratorium under the Insolvency and Bankruptcy Code, 2016. The provisions of the IBC override the Income Tax Act in such cases.

What were the issues?

Whether an assessment order passed during the moratorium period under the Insolvency and Bankruptcy Code, 2016 is valid. Whether the provisions of the IBC override the Income Tax Act.

Which sections of the Income-tax Act were involved?

Section 14,Section 144,Section 238

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI

Before: SHRI SATBEER SINGH GODARA & SHRI NAVEEN CHANDRA

PER NAVEEN CHANDRA, ACCOUNTANT MEMBER:

This appeal is filed by the assessee against the order of Ld. Commissioner of Income Tax (Appeals), NFAC, Delhi dated 11.11.2025 arising from the assessment order under Section (hereinafter referred as ‘u/s’) 143(3) r.w.s. 144 of the Income-Tax Act, 1961 (hereinafter referred as ‘the Act’) dated 21.12.2019 passed by ACIT, Circle 18(2), Delhi for the Assessment Year 2016-17. ITA 84

The order continues below.

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