M/S KOHINOOR STEEL PVT. LTD.,KOLKATA vs. I.T.O.,WARD-3(3), KOLKATA

ITA 27/KOL/2020Status: DisposedITAT Kolkata19 February 2024AY 2012-13Bench: Dr. Manish Borad (Accountant Member), Shri Anikesh Banerjee (Judicial Member)16 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that due to the moratorium declared under the IBC, the appeal could not be proceeded with. The assessee was granted liberty to seek restoration if the resolution process concluded in their favor.

What were the facts?

The assessee's appeal was against the CIT(A)'s order confirming additions made by the AO regarding share capital and premium. The assessee had filed for Corporate Insolvency Resolution Process (CIRP) under the IBC, 2016, leading to a moratorium.

What were the issues?

Whether the appeal can be proceeded with during the moratorium period declared under the Insolvency and Bankruptcy Code, 2016, and the overriding effect of IBC over other laws.

Which sections of the Income-tax Act were involved?

Section 68,Section 143(3),Section 250,Section 14,Section 31,Section 238

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Cases cited in this judgment(8)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

आयकर अपील"य अ"धकरण, कोलकाता पीठ “सी’’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH: KOLKATA डॉ मनीष बोरड, लेखा सद"य एवं "ी अ"नकेश बनज", "या"यक सद"य के सम" [Before Dr. Manish Borad, Accountant Member & Shri Anikesh Banerjee, Judicial Member] Assessment Year: 2012-13 M/s Kohinoor Steel Pvt. Ltd. Vs. ITO, Ward-3(3), Kolkata

(PAN: AACCK 5580 A) Appellant/ (अपीलाथ") Respondent / ($%यथ")

31.01.

2024 Date of Hearing / सुनवाई क( "त*थ Date of Pronouncement/ 19.02.2024 आदेश उ-घोषणा क( "त*थ For the Appellant/ Shri Miraj D Shah, A.R "नधा12रती क( ओर से For the Respondent/ Shri Rakesh Kumar Das, CITDR राज"व क( ओर से

ORDER / आदेश

Per Anikesh Banerjee, Judicial Member:

The instant appeal of the assessee was filed against the order of Ld. Commissioner of Income-tax (appeals)-17, Kolkata [in brevity ld. ‘CIT(A)’] dated 30.09.2019 passed u/s 250 of the Income Tax Act, 1961 (in brevity the ‘Act’) for assessment year 2014-15. The impugned order was emanated from 2 Assessment Years: 2012-13 M/s Kohinoor Steel Pvt. Ltd. the order of the ld. Income-tax Officer, Ward-3(3), Kolkata (in brevity the ‘AO’) passed u/s 143(3) of the Act dated 21.03.201

The order continues below.

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