ASIS GLOBAL LTD,MUMBAI vs. DCIT CIR 6(1), MUMBAI

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ITA 513/MUM/2017Status: DisposedITAT Mumbai20 October 2021AY 2011-123 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal acknowledged the company's liquidation process and the request for withdrawal. Consequently, the appeal filed by the assessee was dismissed as withdrawn.

What were the facts?

The assessee company, M/s. Asis Global Ltd., filed an appeal before the ITAT. Subsequently, an Insolvency Professional appointed as Liquidator of the company requested withdrawal of the appeal.

What were the issues?

The primary issue was whether the appeal should be withdrawn due to the company being under liquidation proceedings.

Which sections of the Income-tax Act were involved?

Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘A‘ BENCH

Before: SHRI M.BALAGANESH & SHRI AMARJIT SINGH

For Appellant: Shri Asis Narayan
For Respondent: Shri Mehul Jain
Hearing: 20/10/2021Pronounced: 20/10/2021

आदेश / O R D E R PER M. BALAGANESH (A.M):

1.

This appeal in A.Y.2011-12 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-12, Mumbai in appeal No.CIT(A)-12/DCIT-6(1)(2)/66/15-16 dated 01/11/2016 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 28/03/2014 by the ld .Dy. Commissioner of Income Tax, Circle 6(1), Mumbai (hereinafter referred to as ld. AO).

2.

Shri Asis Narayan, an Insolvency Professional who has been appointed as Liquidator vide order dated 18/03/2021 passed by the Hon’ble National Company Law Tribunal, Mumbai (NCLT) u/s.33 of Insolvency and Bankruptcy code, 2016 (IBC) filed a letter dated 12/10/2021 stating that the assessee company is under the process of liquidation and accordingly, prayed for withdrawal of the appeal. The letter dated 12/10/2021 is reproduced hereinbelow:-

3.

In view of the above, the appeal of the assessee is hereby dismissed as withdrawn.

4.

In the result, appeal of the assessee is dismissed as withdrawn.

Order pronounced in open Court on 20/10/2021.

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