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

ITA 6340/DEL/2015Status: DisposedITAT Delhi07 May 2025AY 2011-12Bench: SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER, SHRI SUDHIR PAREEK (Judicial Member)3 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that Section 238 of the IBC overrides the Income Tax Act, and all claims, including those of the Income Tax Department, must be entertained by the Official Liquidator. Consequently, the appeals filed by both the Revenue and the assessee have become infructuous.

What were the facts?

Corporate Insolvency Resolution Process (CIRP) was initiated against the assessee under the Insolvency and Bankruptcy Code, 2016. The Tribunal noted that Section 238 of the IBC has an overriding effect over other statutes, including the Income Tax Act.

What were the issues?

Whether the provisions of the Insolvency and Bankruptcy Code, 2016, override the Income Tax Act, 1961, in cases where CIRP is initiated against an assessee.

Which sections of the Income-tax Act were involved?

Section 238

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH: ‘B’, NEW DELHI

Before: SHRI SHAMIM YAHYA, & SHRI SUDHIR PAREEK

For Appellant: Shri Rajeshwar Painuly, CA

Heard together (2 matters)

ITA NO. 6310/DEL/2015
ITA NO. 6340/DEL/2015

Read from the judgment's own cause title. This page is filed under one of them.

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- 1

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 hearin

The order continues below.

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