ACIT CENTRAL CIR-2(1) MUMBAI, MUMBAI vs. M/S WIZCRAFT INTERNATIONAL ENTERTAINMENT PVT. LTD, MUMBAI

This appeal is filed by the Asst. Commissioner of Income- tax, Central Circle-2(1), Mumbai for Assessment Year 2014-15 raising the solitary grievance for deletion of addition with respect to provision of ₹17,49,68,217/-.

At the time of hearing, the assessee has filed a letter dated 15th February, 2022, wherein the assessee has enclosed the order passed by the NCLT, Mumbai dated 27th October, 2021, wherein the assessee has been referred to the corporate insolvency resolution process according to IBC-2016.

In view of this, we find no merit that at this stage the appeal filed by the learned Assessing Officer can be proceeded with. Even keeping this appeal pending before us ialso continuation of proceedings. In view of this, we dismiss the appeal filed by the learned Assessing Officer in terms of provisions of section 14 of IBC-2016 with a liberty to the learned Assessing Officer that as soon as the moratorium is over, he may prefer the appeal afresh or may file application for recall of this order.

In the result, the appeal filed by the learned Assessing Officer is dismissed.