M/S AEZ INFRATECH P. LTD.,NEW DELHI vs. ACIT, NEW DELHI

PER SHAMIM YAHYA: AM The ITA Nos. 6308/DEL/2015, 6310/DEL/2015 & 6312/DEL/2015 have been filed by the Revenue against the respective orders of the Ld. CIT(A)-27, New Delhi relevant to assessment years 2006-07, 2008-09 & 2011- Assessee by Shri Rajeshwar Painuly, CA Department by Shri Surender Pal Singh, CIT(DR)

12 respectively and ITA Nos. 6336/DEL/2015 & 6340/DEL/2015 have been filed by the assessee against the respective of the Ld. CIT(A)-27, New Delhi relevant to assessment years 2006-07 & 2011-12. 2. At the time of hearing, Ld. AR has submitted that Corporate Insolvency
Resolution Process (CIPR) has been initiated against the assessee, under the Insolvency and Bankruptcy Code, 2016 (IBC) issued by the Hon’ble National
Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi in Civil Appeal (AT) (Insolvency) No. 849 of 2023 & IA No. 2894, 2895 of 2023
vide order dated 17th December, 2024, under the IBC (arising out of the order dated 22.4.2023 passed by the ‘Adjudicating Authority’ (National Company
Law Tribunal-III, New Delhi) in CP (IB) No. 3083/ND/2019) titled Mr. Rakesh
Kumar Jain vs. M/s ADTV Communications Private Limited (Formerly Known as M/s AEZ Infratech Private Limited).
3. Ld. DR did not controvert the aforesaid proposition.
4. We have heard both the parties and perused the records. We find that provisions contained under section 238 of “the Code” are having an overriding effect over all other Central and State statutes including Income Tax Act as held by Hon’ble Supreme Court in case of PCIT vs. Monnet Ispat and Energy Ltd.
SLP (C) No. 6483 of 2018 Order dated 10.8.2018 by returning following findings:-
“Given section 238 of the Insolvency and Bankruptcy Code, 2016, it is obvious that the Code will override anything inconsistent contained in any other enactment, including the Income Tax Act.”
5. In this view of the matter, Section 238 of the Code will have overriding effect over all other Central and State statutes including the Income Tax Act and all the claims including claim of the Income Tax Department under the Income
Tax Act, 1961 shall be entertained by the Official Liquidator u/s. 53(1) of the 3

Code. In the background of the aforesaid factual matrix, the captioned Appeals filed by the Revenue as well as Assessee have become infructuous and dismissed as such. However, the Revenue as well as Assessee both are at liberty to approach the Tribunal for reinstitution of their respective appeals and the Tribunal shall consider such applications appropriately, as per law.
6. In the result, for statistical purposes, all the appeals filed by the Revenue as well as Assessee stand dismissed in the aforesaid manner.

Order pronounced 07/05/2025. (SUDHIR PAREEK) ACCOUNTANT MEMBER

“SRBHATNAGAR”