ACIT, CC- 17, NEW DELHI vs. AERENS GOLDSOUK INTERNATIONAL LTD., NEW DELHI

These four appeals are filed by the Revenue against the order passed by the ld. Commissioner of Income Tax (Appeals)–25, New Delhi, for assessment years 2008-09, 2010-11, 2011-12 and 2012-13.

At the time of hearing despite notice none appeared on behalf of the assessee. It has come to the notice that the above company has been referred to NCLT under Section 7 of IBC Code, 2016 wherein the NCLT has passed an order on 09th January, 2020. Therefore, till the resolution process in the above company is not over, no proceedings against that company can continue, according to Section 14 IBC Code, 2016. 3. The ld. DR also agreed to the same. 4. In view of the above facts all these appeals filed by the Assessing Officer, Circle 17, New Delhi, are dismissed in view of Section 14 of the IBC Code, Page | 1 ITAs. 4427 TO 4430/Del/2017 2016 . However we grant liberty to the ld. Assessing Officer that as soon as the moratorium period is over or in case whenever the respondent company goes out of IBC Code, 2016, he may file an application for recall of the above order for pursuing the appeal is on the merit. 5. In the result, for the above reasons, the appeals of the learned AO are dismissed.