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Income Tax Appellate Tribunal, F BENCH, MUMBAI
Date of conclusion of hearing : 14.03.2022 Date of pronouncement of order : 29.04.2022 O R D E R Per Bench: 1. The present batch of appeals being cross-appeals for Assessment Years 2008-09 (ITA No. 3209 & 3794 /Mum/2018), 2009-2010, (ITA No. 1770 & 1790/Mum/2018) 2010-11 (ITA No. 1771&1791/Mum/2018), and 2012-13 (ITA No. 1772 & 1792/Mum/2018), and Assessee’s Appeal for the Assessment Year 2011-2012 (ITA No. 2909 /Mum/2018), and 2014-2015 (ITA No. 2910/Mum/2018) were taken up for hearing. The Ld. Departmental Representative informed that vide order, dated 14.05.2018, petition [CP No. 1790/I&BC/NCLT/MB/MAH/2017] filed by State Bank of India against the Assessee under Section 7 of the Code was admitted. Thereafter, vide order dated 03.02.2022, passed in IA No. 1447/MB/C-II/2021 in CP(IB) No. 1790/MB/C-II/2017, resolution plan was approved by the National Company Law Tribunal, Mumbai Bench, Court II. As per the said order, all past liabilities arising out of any levies/tax dues to any government authority not forming part of the resolution plan and pertaining to pre-corporate insolvency resolution process period stand extinguished. In view of the aforesaid, the present appeals are disposed of as being infructuous with liberty to the Assessee/Revenue to approach the Tribunal in case of variation/change in the order dated 03.02.2022 and/or the approved resolution plan.
In result, the appeals are dismissed.
Order pronounced on 29.04.2022.