SHREE RAM URBAN INFRASTRUCTURE LTD,MUMBAI vs. ITO 7(2)(3), MUMBAI

ITA 3510/MUM/2016Status: DisposedITAT Mumbai31 October 2022AY 2006-075 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that as per Section 14 of IBC, no suit or proceedings can be continued against a corporate debtor during moratorium. The IBC has overriding effect over the Income-tax Act.

What were the facts?

The assessee company was referred to corporate insolvency resolution under the IBC, 2016. The NCLT declared a moratorium, prohibiting continuation of pending suits or proceedings against the company.

What were the issues?

Whether pending income tax appeals can be continued against a company undergoing corporate insolvency resolution and moratorium under IBC, 2016.

Which sections of the Income-tax Act were involved?

Section 14,Section 33(5),Section 178,Section 238

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “H” BENCH, MUMBAI

Before: SHRI KULDIP SINGH & SHRI AMARJIT SINGH

Hearing: 03.10.2022Pronounced: 31.10.2022

Heard together (2 matters)

ITA No.5740/Mum/2013
ITA No.3510/Mum/2016

Read from the judgment's own cause title. This page is filed under one of them.

Per Amarjit Singh (AM):

These two appeals are filed by the assessee against the different order of Commissioner of Income Tax

The order continues below.

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