What did the Tribunal hold?

The Tribunal dismissed the revenue's appeal. It noted that the revenue could approach the Tribunal again once the final outcome of the dispute is known.

The assessee company, Moser Baer Solar Ltd., was undergoing a Corporate Insolvency Resolution Process initiated by Central Bank of India. The NCLT admitted the application and appointed an Insolvency Resolution Professional.

What were the issues?

The primary issue was the pendency of insolvency proceedings against the assessee company, which led to the dismissal of the revenue's appeal.

Addl. CIT, Special Range- 6, New… vs Moser Baer Solar Ltd., New Delhi | ITAT Delhi 2023

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

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

For Respondent: Ms. Sarita Kumari, CIT DR

Hearing: 27/04/2023Pronounced: 27/04/2023

This appeal by the revenue is preferred against the order of the CIT(A)-33, New Delhi dated 11.12.2017 pertaining to A.Y.2011-12.

We find that in the case of the assessee Central Bank of India had filed an application before the Principal Bench of the NCLT u/s. 7 of the Insolvency and Bankruptcy Code 2016 for Initiating Corporate Insolvency Resolution Process against the company.

We further find that vide order dated 14.11.2017 the NCLT admitted the application and appointed Ms. Ritu Rastogi as Insolvency Resolution Professional.

In the light of the above facts this appeal by the revenue is dismissed. However, as and when the final outcome of the dispute comes the revenue may approach this Tribunal as per the provisions of the law. The appeal is accordingly dismissed.

Decision announced in the open court in the presence of 5. both the parties on 27.04.2023.

ADDL. CIT, SPECIAL RANGE- 6, NEW DELHI vs. MOSER BAER SOLAR LTD., NEW DELHI

What did the Tribunal hold?

What were the facts?

What were the issues?

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