DCIT 10(3)(1), MUMBAI V. NEO SPORTS BROADCAST P.LTD, MUMBAI

ITA 1022/MUM/2016

AI Insights

The case involves two appeals related to the assessment order passed under sections 143(3) read with section 144C(13) of the Income Tax Act, concerning the assessment year 2011-12. The appeals were filed by the DCIT-10(3)(1), Mumbai, and M/s Neo Sports Broadcast Pvt. Ltd. The company was undergoing insolvency resolution as per the Insolvency and Bankruptcy Code, 2016, which led to a moratorium on all litigation against it. Consequently, the tribunal found both appeals to be not maintainable during the moratorium period.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 299656 (ITAT-MUMBAI)
• Duration Of Justice: 6 year(s) 10 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-01-2023
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: J
• Next Hearing Date: 16-01-2023
• Assessment Year: 2011-2012
• Appeal Filed On: 29-02-2016
• Laws Referred To: Income Tax Act, Insolvency and Bankruptcy Code, 2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 143(3); 144C; 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL “J” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI PAVAN KUMAR GADALE, JM ITA No. 1022/MUM/2016 (Assessment Year 2011-12) DCI T 1 0 ( 3 ) ( 1 ) R. No . 2 1 2 , Aa y a k a r Bh a v a n , M. K. R o a d , Mu m b a i 4 0 0 0 2 0 Vs. M/s. Neo Sports Broadcast Pvt.Ltd Nimbus Centre, Oberoi Complex, Andheri (West) Mumbai-400 053 (Appellant) (Respondent) ITA No. 1265/MUM/2016 (Assessment Year 2011-12) M/s. Neo Sports Broadcast Pvt.Ltd Nimbus Centre, Oberoi Complex, Andheri (West) Mumbai-400 053 Vs. DCI T 1 0 ( 3 ) ( 1 ) R. No . 2 1 2 , Aa y a k a r Bh a v a n , M. K. R o a d , Mu m b a i 4 0 0 0 2 0 (Appellant) (Respondent) PAN No. AACCN2854Q Assessee by : None Revenue by : Shri Samuel Pitta, SR DR Date of hearing: 17.01.2023 Date of pronouncement : 17.01.2023 O R D E R PER PRASHANT MAHARISHI, AM: 01. ITA No. 1022/MUM/2016 for A.Y. 2011-12 is filed by the DCIT- 10(3)(1), Mumbai and ITA No. 1265/MUM/2016 is filed by M/s Neo Sports Broadcast Private Ltd, Mumbai against the assessment order passed u/s. 143(3) r.w.s. 144C 13 with the Income Tax Act dated 08.01.2016. Page | 2 ITA No.1022 & 1265/MUM/2016 M/s Neo Sports Broadcast Pvt Ltd.,A.Y.2011-12 02. At the time of hearing it was pointed out that the above company is referred to the National Company Law Tribunal for insolvency resolution as per section 9 of Insolvency and Bankruptcy Code, 2016 before the Mumbai Bench in CPIB No. 2006(MB)-2019. 03. Further, these appeals were first listed for hearing on 19.09.2017 further from 16.11.2021 onwards nobody is appearing in these appeals on behalf of the assessee. 04. As per Section 14 of the IBC 2016 no litigation against the corporate debtor i.e. assessee shall continue till the moratorium period is over. 05. Further, as soon as the company is referred to the insolvency resolution process, as per the provisions of Section 140(c)(c), The appeal is required to be signed by the insolvency resolution profession. In this case, the appeal is signed by the Director of the above company Mr. Harish Thawani. In view of this the appeal of the assessee is also not maintainable. 06. Accordingly, both this appeal is dismissed with liberty to both the parties to file the appeal, if they wish so, in prescribed manner, as soon as the insolvency resolution in process in case of the assessee is over. 07. Accordingly, both the appeals are dismissed. Order pronounced in the open court on 17.01.2023. Sd/- Sd/- (PAVAN KUMAR GADALE) (PRASHANT MAHARISHI) (JUDICIAL MEMBER) (ACCOUNTANT MEMBER) Mumbai, Dated: 17.01.2023 Page | 3 ITA No.1022 & 1265/MUM/2016 M/s Neo Sports Broadcast Pvt Ltd.,A.Y.2011-12 Uday Mugal, Stenographer Copy of the Order forwarded to : 1. The Appellant 2. The Respondent. 3. The CIT(A) 4. CIT 5. DR, ITAT, Mumbai 6. Guard file. BY ORDER, True Copy// Sr. Private Secretary/ Asst. Registrar Income Tax Appellate Tribunal, Mumbai