VARIA ENGINEERING WORKS PVT. LTD.,,AHMEDABAD vs. THE DCIT, CIRCLE-4(1)(2),, AHMEDABAD

Income Tax Department being claimant was also part of the Stakeholder's Consultation Committee, letter for the intimation of the same was sent to the Income Tax Department along-with the progress in the matter. Further, every notice to attend the Consultation Committee Meetings has been sent to the Income Tax Department, however not a single meeting is attended.

It may kindly be noted that IBC provisions shall have overriding effect as per Section 238 of Insolvency & Bankruptcy Code which states as under: "The provisions of this Code shall have effect, notwithstanding anything inconsistent therewith contained in any other law for the time being in force or any instrument having effect by virtue of any such law." 4. In furtherance of the foregoing submission, we, humbly apprise this honourable court of the intricate circumstances surrounding the matter at hand. With specific regard to the additions made during the year under consideration, we regret to inform Your Honour that the appointed liquidator finds themselves in an exceedingly disadvantageous position. 5. It is essential to expound upon the complexities of the situation. The liquidator, through no fault of their own, is regrettably devoid of the comprehensive details and corroborating documentary evidence that would be indispensable for crafting a robust and legally sound representation of the case before this esteemed bench. Despite conscientious efforts to procure the requisite Information, the liquidator has encountered insurmountable obstacles and unanticipated barriers, which have impeded their ability to fulfill their fiduciary duties to the fullest extent. 6. In light of these multifaceted challenges and the profound limitations imposed upon the liquidator's ability to effectively advocate on behalf of the assessee, we find ourselves at a crossroads wherein the pursuit of justice and the principles of fairness necessitate a certain course of action. It is with the utmost reverence for the integrity of this court's proceedings that we now humbly beseech. Your Honour for the gracious concession of permission to voluntarily withdraw the pending appeal. 7. This request is made with the utmost sincerity and in full recognition of our duty to uphold the principles of justice and equity. The decision to seek withdrawal is not taken lightly: rather, it is a conscientious response to the present circumstances, which preclude the petitioner from offering a comprehensive and compelling presentation due to the inadequacy of available materials. We firmly believe that this course of action aligns with the broader interests of judicial efficiency and the unimpeachable pursuit of justice within the framework of the law.

Recording the above letter, the appeal filed by the Assessee is hereby dismissed.