PUNJ LLYOD LTD.,NEW DELHI vs. DCIT, NEW DELHI

PDF · subscribers
ITA 4192/DEL/2016Status: DisposedITAT Delhi16 December 2019AY 2009-102 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the appeals filed by the Revenue, citing Section 14 of the Insolvency and Bankruptcy Code, 2016, which prohibits continuation of proceedings against the assessee. The appeals filed by the Assessee were also dismissed as they were not maintainable, with directors no longer authorized to pursue them.

What were the facts?

The appeals were filed by both the Revenue and the Assessee for assessment years 2007-08 to 2010-11. The Assessee company was undergoing proceedings under the Insolvency and Bankruptcy Code, 2016.

What were the issues?

Whether proceedings against an assessee can continue when the assessee is undergoing insolvency proceedings. Whether appeals filed by directors are maintainable when the company is under insolvency resolution.

Which sections of the Income-tax Act were involved?

Section 14

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH “I-2”: NEW DELHI

Before: SHRI KULDIP SINGH & SHRI PRASHANT MAHARISHI

For Appellant: Shri Rajat Jain, CA, Shri Akshat Jain, CA
For Respondent: Shri Raman Chopra, CIT DR, Shri Rajat Jain, CA, Shri Akshat Jain, CA
Hearing: 09/12/2019Pronounced: 16/12/2019

O R D E R PER BENCH 1. These are the bunch of eight appeals pertaining to the same assessee whose cases are lying before the National Company Law Tribunal under the Insolvency and Bankruptcy Code, 2016. Four appeals are filed by revenue for Assessment years 2007-08 to 2010-11. According to the provision of section 14 of the Insolvency and Bankruptcy Code, 2016 the proceedings against the assessee cannot be continued. In view of this, all the four appeals filed by the ld Assessing Officer against the company are dismissed with a liberty to the revenue to file the same, if so advised after the moratorium period ends. Hence, we dismiss appeals filed by the revenue. Page | 1

More judgments on Section 14

All 685 judgments and leading authorities on Section 14 →

Recent GST High Court judgments

Search GST case law →