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Income Tax Appellate Tribunal, DELHI BENCH ‘D’ : NEW DELHI
Before: SHRI KULDIP SINGH & SHRI B.R.R. KUMAR
PER BENCH :
Aforesaid appeals have been filed by the Revenue and the assessee challenging the impugned orders passed by the ld. CIT (A) pertaining to Amrapali Group.
During the hearing, it has come on record by virtue of the order dated 17.03.2021 passed by the coordinate Bench of the Tribunal in 1949, 1950 & 1951/Del/2017 in ACIT vs. M/s. Amrapali & Silicon Pvt. Ltd. & other appeals that Amrapali Group to which these appeals belong has gone into insolvency proceedings in Insolvency and Bankruptcy Code, 2016 (for short ‘the Code’).
In view of the matter, we are of the considered view that since Amrapali Group is already undergoing insolvency proceedings under the Code in which resolution professionals have already been appointed, no proceedings can continue against the corporate debtor i.e. assessee under section 14 of the Code.
Likewise, section 238 of the Code will have overriding effect on all other Central and State statutes including the Income-tax Act and all the claims including claim of the assessee as well as Revenue Department shall be entertained in accordance with the Code.
Consequently, all the aforesaid appeals filed by the Revenue and assessee are hereby dismissed with liberty to the Revenue as well resolution process under the Code. Order pronounced in open court on this 8th day of April, 2021 after the conclusion of the virtual hearing.