ACIT, NEW DELHI vs. M/S. JET LITE (INDIA) LTD., NEW DELHI

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ITA 5596/DEL/2016Status: DisposedITAT Delhi30 January 2020AY 2013-142 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that no proceedings can continue against the company during the moratorium period under the IBC Code. Therefore, all appeals filed by the Revenue were dismissed.

What were the facts?

The Revenue filed four appeals against the assessee, Jet Lite (India) Ltd., for various assessment years. The assessee's files were transferred to Mumbai, and the assessee company was also undergoing insolvency proceedings under the Insolvency and Bankruptcy Code, 2016.

What were the issues?

Whether appeals can continue against a company undergoing insolvency proceedings under the IBC Code, 2016. The applicability of the moratorium period in such cases.

Which sections of the Income-tax Act were involved?

Section 14 IBC Code, 2016

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘D’, NEW DELHI

Before: MS. SUCHITRA KAMBLE & SH. PRASHANT MAHARISHI

Pronounced: 30/01/2020

Appellant by Sh. J. K. Mishra, CIT DR Respondent by None Date of hearing: 07 & 08/01/2020 Date of Pronouncement: 30/01/2020 ORDER PER PRASHANT MAHARISHI, AM. 1. is filed the ld AO against the order of the ld CIT(A)-23, New Delhi dated 23.12.2015 for Assessment Year 2009-10.

2.

ITA No. 4303/Del/2016 is filed by AO against the order of ld CIT(A)-23, New Delhi dated 17.05.2016 for Assessment Year 2011-12.

3.

ITA No. 5177/Del/2016 is filed by the AO against the order of the ld CIT(A)-23, New Delhi dated 27.07.2016 for Assessment Year 2012-13.

4.

Revenue against the order of the ld CIT(A)-23, New Delhi dated 26.08.2016 for Assessment Year 2013- 14.

5.

At the time of hearing the ld DR submitted that the files of the assessee have been transferred to Mumbai from Delhi and therefore, appeals may be transferred as the case records have been transferred to Mumbai jurisdiction. Despite notice, none appeared on behalf of the assessee.

6.

However, at the time of hearing it has come to our notice that the above company has been referred for Insolvency and Bankruptcy Code, 2016. for resolution of insolvency in CP(IB) No. 3109/MB/2019.

7.

According to section 14 of IBC Code, 2016 no suit or proceedings can continue against the above company, till the moratorium period ends. In view of this, we dismiss all these four appeals filed by the ld AO with a liberty to file them afresh, after the moratorium period as per IBC Code, ends.

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