DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-13, NEW DELHI, JHANDEWALAN EXTN., NEW DELHI vs. MAHAGUN INDIA PVT. LTD., DELHI

ITA 3036/DEL/2023Status: DisposedITAT Delhi28 October 2025AY 2016-17Bench: SH. SUDHIR KUMAR, JUDICIAL MEMBER AND SH. MANISH AGARWAL (Accountant Member)3 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that Section 238 of the IBC has an overriding effect over other statutes, including the Income Tax Act, as held by the Supreme Court. Consequently, the appeals filed by both the Assessee and the Revenue were rendered infructuous.

What were the facts?

The Assessee filed appeals against orders for AY 2014-15 to 2016-17. During the hearing, it was submitted that Corporate Insolvency Resolution Process (CIRP) was initiated against the assessee under the Insolvency and Bankruptcy Code, 2016 (IBC).

What were the issues?

Whether the provisions of the Insolvency and Bankruptcy Code, 2016, specifically Section 238, override the provisions of the Income Tax Act in cases where CIRP has been initiated against the assessee.

Which sections of the Income-tax Act were involved?

Section 7,Section 53(1),Section 238

AI-generated summary — verify with the full judgment below

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

Before: SH. SUDHIR KUMAR & SH. MANISH AGARWAL

For Appellant: Ms. Monalisa Maity, Adv
Hearing: 15/09/2025Pronounced: 15/09/2025

Heard together (2 matters)

ITA NO. 2882/DEL/2023
ITA NO. 3036/DEL/2023

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

PER BENCH: The ITA Nos. 2881/Del/2023, 2882/Del/2023 & 2883/Del/2023 have been filed by the Assessee against the respective orders of the Ld. CIT(A)-28, 1

New Delhi relevant to assessment years 2014-15, 2015-16 & 2016-17 respectively and ITA Nos. 3008/Del/2023 & 3036/DEL/2023 have been filed by the Revenue relevant to assessment years 2015-16 & 2016-17 respectively.

2.

At the time of hearing, Ld. AR has submitted that Corporate Insolvency Resolution Process (CIPR) has been initiated against the assessee, vide Order under Section 7 of the Insolve

The order continues below.

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