UNIVERSAL INDUSTRIAL EQUIPMENT AND TECHNICAL SERVICES PVT. LTD,NAGPUR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 2 , NAGPUR

ITA 349/NAG/2023Status: DisposedITAT Nagpur17 February 2026AY 2014-158 pages
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What did the Tribunal hold?

The Tribunal held that claims not forming part of an approved resolution plan under the Insolvency and Bankruptcy Code (IBC) are extinguished. Since the Income Tax Department failed to submit its claim, the existing tax demand was considered abated.

What were the facts?

The assessee company had undergone Corporate Insolvency Resolution Process (CIRP) and the Income Tax department's claim was not included in the approved resolution plan. The assessee contended that the department had not filed any claim before the resolution professional.

What were the issues?

Whether tax liabilities, not part of an approved resolution plan under the IBC, stand extinguished, and if proceedings initiated by the tax department for such liabilities are valid.

Which sections of the Income-tax Act were involved?

Section 254(1),Section 156A,Section 31(1),Section 14,Section 238,Section 143(3)

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Heard together (2 matters)

ITA No. 349/NAG/2023
ITA No. 350/Nag/2023

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IN THE INCOME TAX APPELLATE TRIBUNAL “NAGPUR" BENCH, NAGPUR BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER & SHRI KHETTRA MOHAN ROY, ACCOUNTANT MEMBER ITA No. 350/Nag/2023 (AY: 2015–16) (Physical hearing) Universal Industrial Equipment And Technical Services Pvt. Ltd. CPT Complex, Kamtee Road, Opp. R. C. Church, Near Patni Auto, Maharashtra – 440001. [PAN: AAACU3536C] Appellant / Assessee Assessee by Revenue by Date of hearing Date of pronouncement DCIT, Circle – 2, Nagpur Vs Aayakar Bhawan, Room No. 318, 3rd Floor, Telangkhedi Road, Civil Lines, Nagpur, Maharashtra - 440001. Respondent / Revenue Miss. Veena Agrawal, CA Shri Surjit Kumar Saha, Sr. DR 17.02.2026 17.02.2026 Order under section 254(1) of Income Tax Act PER PAWAN SINGH, JUDICIAL MEMBER:

1.

These two appeals by assessee are directed against the separate orders of Id. CIT(A)/National Faceless Appeal Centre, Delhi, both dated 27.04.2023 for Assessment Year (A.Y.) 2014–15 & 2015–16. In both the appeals the assessee has raised similar grounds of appeal, raising the plea that the assessee has gone under Corporate Insolvency Resolution Process (CIRP) and the claim of Income Tax department was not

The order continues below.

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