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Income Tax Appellate Tribunal, MUMBAI BENCH “E”, MUMBAI
Before: SHRI PRASHANT MAHARISHI & SHRI PAVAN KUMAR GADALE
O R D E R
Per Pavan Kumar Gadale, JM
The appeal is filed by the assessee against the order of Pr. Commissioner of Income-tax (C) -3 Mumbai u/sec263 of the Act.
At the time of hearing, the Ld. DR has brought to the knowledge of the bench that, the assessee has been referred to the Corporate Insolvency Resolution Process as per IBC- 2016 Laws.
2 ITA 4763/M/2019. M/s Siddhiraj Housing Projects Pvt Ltd., Mumbai 3. Whereas as per the provisions of Sec.14 of IBC-2016 till the conclusion of proceedings under IBC-2016 no suit or proceedings can be continued against the corporate debtor. Considering the facts and circumstances, we are of the opinion that there is no point in proceeding with the appeal filed by the assessee and also keeping the appeal pending is also a continuation of proceedings.
Accordingly, we considering the provisions of section14 of IBC-2016 Laws dismiss the appeal filed by the Assessee. Further we grant the liberty to the appellant/assessee to move an application to recall the present order after the moratorium is over as per the provisions of IBC-2016 laws.
In the result, the appeal filed by the assessee and the revenue are dismissed. Order pronounced in the open court on 31/10/2022