DCIT CENT. CIR. -1(2), MUMBAI vs. GITANJALI GEMS LTD., MUMBAI

PDF · subscribers
ITA 1782/MUM/2018Status: DisposedITAT Mumbai28 November 2022AY 2008-092 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the appeals filed by the Assessing Officer were not maintainable due to the assessee being under insolvency resolution process as per Section 14 of IBC 2016. The appeals were dismissed with liberty to refile upon the completion of the insolvency process.

What were the facts?

The Revenue filed three appeals before the ITAT against the orders of the CIT(A) for assessment years 2008-09, 2010-11, and 2011-12. The assessee company was undergoing insolvency resolution process.

What were the issues?

The primary issue was the maintainability of the Revenue's appeals before the ITAT when the assessee was undergoing insolvency resolution proceedings.

Which sections of the Income-tax Act were involved?

Section 14 of IBC 2016

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “K” BENCH, MUMBAI

Before: SHRI PRASHANT MAHARISHI, AM & SHRI KAVITHA RAJAGOPAL, JM

For Respondent: Dr. Yogesh Kamat, CIT DR
Hearing: 28.11.2022Pronounced: 28/11/2022

(Assessment Year 2008-09) (Assessment Year 2010-11) ITA No. 1784/MUM/2018 (Assessment Year 2011-12) DCIT CENT.CIR.-1(2) Gitanjali Gems Ltd. Room No. 906, 9th Floor, Old 801/802, Prasad Chambers, CGO Building(Annex), M.K.Road, Vs. Mumbai-400 004 Mumbai- 400 020 (Appellant) (Respondent) PAN No. AAACG1624F Assessee by : None Revenue by : Dr. Yogesh Kamat, CIT DR Date of hearing: 28.11.2022 Date of pronouncement : 28/11/2022 O R D E R PER PRASHANT MAHARISHI, AM: 01. There are 3 appeals filed by the deputy Commissioner of income tax, central circle – 1 (2), Mumbai (the learned assessing officer for assessment year 2008 – 09, 2010 – 11 and 2011 – 12 in case of M/s Geetanjali gems Limited against the order passed by the learned Commissioner of income tax (appeals) – 56, Mumbai dated 22/12/2017 for all these years. The assessing officer is aggrieved and therefore the appeal is preferred.

3.

In the result, all these 3 appeals are dismissed with above directions.

Order pronounced in the open court on 28/11/2022.

Recent GST High Court judgments

Search GST case law →