What did the Tribunal hold?

The Tribunal noted that a co-ordinate bench had previously dismissed the Revenue's appeal in a similar case involving insolvency proceedings. The Revenue did not dispute this fact.

The Revenue appealed against an order of the CIT(A) concerning an assessment order passed by the ACIT. The assessee company was under insolvency proceedings.

What were the issues?

Whether the appeal should be dismissed due to the assessee company being under insolvency proceedings.

DCIT vs Um Green Lighting P.Ltd, New Delhi | ITAT Delhi 2023

Income Tax Appellate Tribunal, DELHI

Before: SH. N.K.BILLAIYA & SH. ANUBHAV SHARMA

Hearing: 14.09.2023Pronounced: 21.09.2023

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.

DCIT, CIRCLE-27(1), NEW DELHI vs. UM GREEN LIGHTING P.LTD, NEW DELHI

What did the Tribunal hold?

What were the facts?

What were the issues?

Which sections of the Income-tax Act were involved?

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