Appeal details
Assessee PAN
Bench
Appeal Number
Appellant
Respondent
Appeal Type
Miscellaneous Application
Pronouncement Date
07-03-2025
Appeal Filed By
Department
Order Result
Dismissed
Bench Allotted
D
Assessment Year
2008-2009
Judgement Text
" \n \nIN THE INCOME TAX APPELLATE TRIBUNAL, ‘D’ BENCH \nMUMBAI \n \n BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER \n & \n \n SHRI AMARJIT SINGH, ACCOUNTANT MEMBER \n \nMA No.395/Mum/2022 \n(Arising Out of ITA No.1662/Mum/2017) \n(Assessment Year :2004-05) \n \nMA No.408/Mum/2022 \n(Arising Out of ITA No.1443/Mum/2018) \n(Assessment Year :2006-07) \n \nMA No.409/Mum/2022 \n(Arising Out of ITA No.1444/Mum/2018) \n(Assessment Year :2010-11) \n \nMA No.410/Mum/2022 \n(Arising Out of ITA No.1445/Mum/2018) \n(Assessment Year :2009-10) \n \nMA No.411/Mum/2022 \n(Arising Out of ITA No.1446/Mum/2018) \n(Assessment Year :2008-09) \n \nMA No.412/Mum/2022 \n(Arising Out of ITA No.1447/Mum/2018) \n(Assessment Year :2007-08) \n& \nMA No.413/Mum/2022 \n(Arising Out of ITA No.1661/Mum/2017) \n(Assessment Year :2005-06) \n \nDCIT CC-2(2) \nPratistha Bhavan \n8th Floor, M.K. Road \nMumbai- 400 020 \n \nVs. Shri Girish Juneja (IRP \nin the case of M/s. \nReliable Paper (I) Ltd., \n93, \nDadiseth \nAgiary \nLane \nKalbadevi \nMumbai-400 002 \nPAN/GIR No. AAACD9643F \n(Appellant) \n.. \n(Respondent) \n\n \nMA No.395/Mum/2022 and others \nGirish Juneja (IRP in the case of Reliable Paper (I) Ltd., \n \n2 \n \n \nAssessee by \nNone \nRevenue by \n \n \nShri Asif Karmani \nDate of Hearing \n 07/03/2025 \nDate of Pronouncement \n 07/03/2025 \n \n \nआदेश / O R D E R \n \nPER AMIT SHUKLA (J.M): \n \n \nThe aforesaid Miscellaneous Applications have been filed \nby the Revenue for A.Y.2004-05 to 2010-11. \n \n2. \nBefore us ld. DR submitted following report. \n \n“It is submitted that the NCLT Mumbai Bench-IV has passed \nfinal order dated 24.02.2023 confirming the liquidation of the \nCompany. The order of the same is enclosed herewith. \n \nWith respect to the claim of the Income Tax Department, it is \nsubmitted \nthat \ndepartment \nhad \nfiled \nclaim \nof \nRs. \n2,97,44,88,116/- out of which amount of Rs. 2,97,44,88,116/- \nwas admitted (copy of Annexure-5 is enclosed herewith). It is \nfurther submitted that as per mall dated 17.09.2024, the \nofficial liquidator informed the undersigned that the Liquidation \nof the Reliable paper has been completed and the proceeds \nhave already been realized and distributed in full. Further vide \nmail dated 24.09.2024, the official liquidator informed that the \nproceeds from auction of the assets of the Company have been \ndistributed as per the waterfall mechanism prescribed u/s 53 \nof the Insolvency and Bankruptcy Code, 2016. It was informed \nthat the proceeds were not sufficient to even cover the dues of \nthe secured creditors. Hence, no payment could be made to the \nIncome Tax Department which falls lower in the waterfall \nmechanism (copy of the mail is enclosed herewith). \n \n\n \nMA No.395/Mum/2022 and others \nGirish Juneja (IRP in the case of Reliable Paper (I) Ltd., \n \n3 \nIn view of the above, as the Company has been liquidated and \nthe proceeds out of the sale of assets have been distributed \nfully, the Miscellaneous Applications filed by the department \nwill not have material significance for the department.” \n \n3. Since no payment could be made to Income Tax \ndepartment, the entire purpose of recalling the order and \ndeciding the appeal on merits could be infructuous exercise. \nAccordingly, Miscellaneous Applications filed by the Revenue \nare dismissed. \n \n4. In the result, all the Miscellaneous Applications are \ndismissed. \n \n \nOrder pronounced on 7th March, 2025. \n \n \n \nSd/- \n (AMARJIT SINGH) \nSd/- \n (AMIT SHUKLA) \nACCOUNTANT MEMBER \nJUDICIAL MEMBER \nMumbai; Dated 07/03/2025 \nKARUNA, sr.ps \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n\n \nMA No.395/Mum/2022 and others \nGirish Juneja (IRP in the case of Reliable Paper (I) Ltd., \n \n4 \n \nCopy of the Order forwarded to : \n \n \n \n \n \n \n \n \n BY ORDER, \n \n \n \n \n(Asstt. Registrar) \nITAT, Mumbai \n \n \n1. The Appellant \n2. The Respondent. \n3. CIT \n4. DR, ITAT, Mumbai \n5. Guard file. \n \n//True Copy// \n \n"
Mehul