ADDL. CIT, SPECIAL RANGE-4 vs. MOSSER INDIA LTD.,,

Heard and perused the record.

Adjournment application has been moved on behalf of the revenue by Ld. Sr. DR. However, the Ld. AR submitted that the appeal has become infructuous in the light of fact that the assessee company has gone under liquidation. Citing certain orders of Supreme Court of India, Hon’ble High Court and the Co-ordinate Bench of Delhi in regard to the case of assessee it was submitted that it is now consistently held that as a liquidation proceedings have over riding effect over the claim of the revenue, the appeals of the assessee or revenue have become non- consequential. Ld. DR however submitted that the matter may be kept under abeyance.

It can be appreciated that the present appeal arises out of the challenge of penalty levied u/s 271(1)(c) of the Income Tax Act. The assessee is not appearing and the Ld. AR is representing the liquidation authority. The record shows corporate Insolvency Resolution Process is pending before NCLT after order dated 14.11.2017.

In assessee’s own case Hon’ble Supreme Court while deciding Civil Appeal no. 4705/2014 vide order dated 21.07.2020, Hon’ble Delhi High Court disposing of vide order dated 16.03.2022, ITA no. 1204/2018 vide order dated 16.03.2022, ITA No. 70/2020, 76/2020, 80/2022 vide order dated 22.09.2022 and a co-ordinate Bench vide ITA No. 4995.Del.2016 order dated 17.03.2021, disposed of the appeals without adjudicating anything on merits.