JCIT, CIRCLE-22(2), NEW DELHI vs. S R FOILS & TISSUE P. LTD., NEW DELHI
In the result, the appeal of the Revenue is dismissed
ITA 540/DEL/2019[2011-12]Status: DisposedITAT Delhi11 Jan 2023AY 2011-12
Bench: Shri N.K.Billaiya & Shri Kul Bharat[Assessment Year : 2011-12] Jcit, Vs S R Foils & Tissue P.Ltd., Circle-22(2), 2Nd Floor, Vardhman Plaza-Ii, New Delhi. J-Block, Community Centre, Rajouri Garden, New Delhi-110027. Pan-Aaacr7410E Appellant Respondent Appellant By Shri Upvan Gupta, Adv. Respondent By Ms. Maninder Kaur, Sr.Dr Date Of Hearing 05.01.2023 Date Of Pronouncement 11.01.2023 Order
Section 133(6)Section 143(3)Section 33(2)Section 53Section 53(1)Section 68
long prior to the initiation of liquidation proceedings under the Code against VNR
Infrastructures Limited, Hyderabad. It may be noted that Section 36(3)(b) of the Code indicates in no uncertain terms that the liquidation estate assets may or may not be in possession of the corporate debtor, including ... attachment constitutes an encumbrance on the property. it still does not have the effect of taking it out of the purview of Section 36(3)(b) of the Code. The said order of attachment therefore cannot be taken to be a bar for completion of the sale effected
