ACIT, NEW DELHI V. M/S PUNJ LLOYD LTD., NEW DELHI

MA 269/DEL/2020

AI Insights

The case involves a Miscellaneous Application by the Revenue seeking recall of an ITAT order that dismissed appeals against Punj Lloyd Ltd. due to the initiation of corporate insolvency proceedings. The Revenue argued that the ITAT's order contained factual inaccuracies regarding the impact of the moratorium period on the appeals. However, the Tribunal found no apparent mistake in its previous order and dismissed the application, emphasizing that the Revenue's request was essentially a review of the Tribunal's decision, which is not allowed under the specified section of the Income Tax Act.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 312121 (ITAT-DELHI)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 02-05-2025
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: F
• Assessment Year: 2007-2008
• Laws Referred To: Insolvency and Bankruptcy Code, 2016, Income Tax Act
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: D.K. SRIVASTAVA
• Assessee Lawyers: PARITOSH JAIN

Judgement Text

" 1 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “F”, NEW DELHI BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER AND SHRI CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER MA NO. 269/Del/2020 (IN ITA NO. 4222/DEL/2016) A.Y. 2007-08 ACIT, CC-25, PUNJ LLOYD LTD. NEW DELHI 17-18, PUNJ LLOYD HOUSE, NEHRU PLACE, NEW DELHI (PAN: AAACP0305Q) (Appellant) (Respondent) Assessee by : Sh. Paritosh Jain, Adv. Department by : Sh. D.K. Srivastava, Sr. DR. Date of Hearing : 02.05.2025 Date of pronouncement : 02.05.2025 ORDER PER SHAMIM YAHYA, AM By way of this Miscellaneous Application, Revenue seeks recall of the order of this Tribunal passed in Revenue’s I.T.A. No. 4222 to 4225/Del/2016 (AY 2007-08 to 2010-11) and Assessee’s I.T.A. No. 4190 to 4193/Del/2016 (Ayrs. 2007-08 to 2010-11) decided vide common order dated 16.12.2019. 2. At the time of hearing, Ld. DR for the revenue submitted that vide order dated 16.12.2019, the ITAT has observed that the assessee submitted that NCLT, 2 Pr. Bench, New Delhi vide its order dated 08.03.2019 has initiated the Corporate Insolvency and appointed interim resolution professional. According to the provisions of section 14 of the Insolvency and Bankruptcy Code, 2016 the proceedings against the assessee cannot be continued. In view of this, all the four appeals filed by the Department against the company and also appeals filed by the assessee were dismissed with a liberty to the revenue and assessee to file the same if so advised after the moratorium period ends. He further submitted that the observation of the ITAT is not correct on facts of the case. It was further submitted that as per Insolvency and Bankruptcy Code (IBC) during the moratorium period, any order passed by the ITAT against the assessee company cannot have any effect. Hence, it was pleaded that the Revenue’s appeals may be kept in abeyance till completion of the moratorium period. However, Ld. AR has submitted that since there is no apparent mistake in the order of the Tribunal, hence, the misc. application filed by the Department is not sustainable in the eye of law and may be dismissed as such. 3. We have heard both the parties and perused the records. During the hearing, a query was raised by the Bench from the Ld. DR that which mistake is apparent in the order of the Tribunal. In reply, Ld. DR unable to point out any apparent mistake in the order of the Tribunal. 3 4. In view the aforesaid factual matrix, we are of the considered opinion that there is no mistake apparent in the order of the Tribunal dated 16.12.2019 and Revenue is seeking a review of the Tribunal’s order in the garb of rectification, which is not permissible u/s. 254(2) of the I.T. Act and, therefore, the Miscellaneous Application, being devoid of any merit and dismissed the same as such. 5. In the result, the Misc. Application filed by the Revenue is dismissed. Order pronounced on 02/05/2025 upon conclusion of hearing. Sd/- Sd/- [CHALLA NAGENDRA PRASAD] [SHAMIM YAHYA] JUDICIAL MEMBER ACCOUNTANT MEMBER SRBhatnagar Copy forwarded to: - 1. Appellant 2. Respondent 3. CIT 4. CIT (A) 5. DR, ITAT By Order, Assistant Registrar, ITAT, Delhi Benches "