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Income Tax Appellate Tribunal, MUMBAI BENCH “H”, MUMBAI
Before: SHRI PAVAN KUMAR GADALE & SHRI AMARJIT SINGH
O R D E R Per Bench: These are the appeals filed by the assessee and the revenue against the common order of Commissioner of Income-tax (Appeals) -53 Mumbai.
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. Further the order passed by the National Company Law Tribunal (NCLT),Ahmedabad dated 06.09.2019 was brought on record.
We found 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 these appeals filed by the assesse and the revenue and also keeping the appeals pending is also a continuation of proceedings.