SATRA PROPERTIES (INDIA) LTD,MUMBAI vs. DCIT CEN CIR 5(2), MUMBAI

ITA 3812/MUM/2017Status: DisposedITAT Mumbai05 December 2022AY 2011-126 pages
AI SummaryDismissed

What did the Tribunal hold?

The tribunal held that the appeals were a continuation of pending suits against the corporate debtor, which is prohibited during the moratorium period. The appeals were also not maintainable in their current form as the Interim Resolution Professional was not impleaded.

What were the facts?

The assessee company was admitted to Corporate Insolvency Resolution Process (CIRP) and a moratorium was imposed under the Insolvency and Bankruptcy Code, 2016. The appeals were filed by the assessee and the Revenue challenging the CIT(A)'s order.

What were the issues?

Whether continuation of appeals against a corporate debtor undergoing CIRP is prohibited under the Insolvency and Bankruptcy Code, 2016. Whether appeals are maintainable when the Interim Resolution Professional is not impleaded.

Which sections of the Income-tax Act were involved?

Section 14,Section 238

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Cases cited in this judgment(2)Show list

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Income Tax Appellate Tribunal, “G” BENCH, MUMBAI

Before: SHRI PRASHANT MAHARISHI & SHRI SANDEEP SINGH KARHAIL

For Respondent: Shri Prabhat Kumar Gupta

PER SANDEEP SINGH KARHAIL, J.M.

The present cross-appeals have been filed by the assessee and the Revenue challenging the impugned order dated 31/03/2017, passed under section 250 of the Income Tax Act, 1961 (‘the Act’) by the learned Commissioner of Income Tax (Appea

The order continues below.

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