Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, DELHI
Before: SH. N.K.BILLAIYA & SH. ANUBHAV SHARMA
The appeal has been preferred by the Revenue against the order dated 19.01.2018 of CIT (A)-9, New Delhi (hereinafter referred as Ld. First Appellate Authority or in short Ld. ‘FAA’) arising out of an appeal before it against the order dated 30.03.2016 passed u/s 143(3) of the Income Tax Act, 1961 (hereinafter referred as ‘the Act’) by the ACIT, Circle-27(1), New Delhi (hereinafter referred as the Ld. AO).
Heard and perused the record.
Ld. AR pointed out at the outset that the assessee company is under insolvency proceedings. A copy of order dated 23.05.2023 in for A.Y. 2015-16 was also relied to submit that Co-ordinate Bench has taken into consideration insolvency proceedings and dismissed the appeal of revenue.
Ld. DR did not dispute the facts. In the light of aforesaid, the Revenue’s appeal is dismissed, with a liberty to get the appeal restored in case of any favourable order in the insolvency proceedings.
Order pronounced in the open court on 21st September, 2023.