M/S RAJ OIL MILLS LTD., Mumbai V. ACIT CENTRAL CIRCLE-6(1), Mumbai

ITA 1227/MUM/2019

• Counselvise Citation: [2022] 107 COUNSELVISE.COM (IT) 0664 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 3 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-07-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2008-2009
• Appeal Filed On: 04-03-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 143(3); 153A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI AMIT SHUKLA, JM & SHRI S. RIFAUR RAHMAN, AM 1. आयकरअपीलसं./ I.T.A. No. 1227/Mum/2019 (ननधधारणवर्ा / Assessment Year: 2008-09) 2. आयकरअपीलसं./ I.T.A. No. 1228/Mum/2019 (ननधधारणवर्ा / Assessment Year: 2009-10) 3. आयकरअपीलसं./ I.T.A. No. 1229/Mum/2019 (ननधधारणवर्ा / Assessment Year: 2009-10) M/s Raj Oil Mills Ltd. 224-230, Bellasis Road, Alexandra Cinema Hall, Nagpada, Mumbai-400 008 बनाम/ Vs. ACIT Cen. Cir-6(1), R. No. 1905, Air India Building, Nariman Point, Mumbai-400 021 स्थधयीलेखधसं./जीआइआरसं./PAN No. AACCR0266J (अपीलधथी/Appellant) : (प्रत्यथी / Respondent) 4. आयकरअपीलसं./ I.T.A. No. 909/Mum/2019 (ननधधारणवर्ा / Assessment Year: 2008-09) ACIT Cen. Cir-6(1), R. No. 1905, Air India Building, Nariman Point, Mumbai-400 021 बनाम/ Vs. M/s Raj Oil Mills Ltd. 224-230, Bellasis Road, Alexandra Cinema Hall, Nagpada, Mumbai-400 008 स्थधयीलेखधसं./जीआइआरसं./PAN No. AACCR0266J (अपीलधथी/Appellant) : (प्रत्यथी / Respondent) अपीलधथीकीओरसे/ Appellant by : None प्रत्यथीकीओरसे/Respondent by : Shri Jayant Jhaveri, Ld. DR सुनवधईकीतधरीख/ Date of Hearing : 04.07.2022 घोर्णधकीतधरीख / Date of Pronouncement : 04.07.2022 2 I.T.A. No. 1227,1228,1229 & 909/Mum/2019 M/s Raj Oils Mills Ltd. आदेश / O R D E R Per Bench: The aforesaid appeals have been filed by the assessee and revenue against separate impugned order of even date 26.11.2018, passed by Ld. CIT (Appeals)-54, Mumbai for the quantum of assessment passed u/s 143(3) r.w.s. 153A for the AY 2008-09 to 2009-10. 2. At the outset, it is noticed that in this case National Company Law Tribunal, Mumbai (NCLT) has passed order dated 19.04.2018 approving the resolution plan of the assessee and the petition filed u/s 10 of IBC, which has been admitted and moratorium has been passed vide order dated 19.04.2018. 3. Thus, once NCLT has passed the order in pursuance of petition filed u/s 7 of IBC for initiating insolvency process against the corporate debtor, i.e., the assessee company and there is moratorium imposed u/s 14 of IBC, then all the proceedings stands in abeyance. 4. In view of the above moratorium, no proceedings can be initiated against the corporate debtor, that is, assessee company 3 I.T.A. No. 1227,1228,1229 & 909/Mum/2019 M/s Raj Oils Mills Ltd. including the present proceedings before this tribunal, or the income tax proceedings and recovery of demand or giving effect of any order. It is well settled now that, IBC has overriding affect on all the acts including Income Tax Act which has been specifically provided u/s 178(6) of the I.T. Act as amended w.e.f. 01.11.2016. 5. Accordingly, the appeal filed by the assessee in the present circumstances, cannot be proceeded with, as revenue has also not sought any permission by the committee of creditors. Till the completion of moratorium period or upon the revival of corporate debtor as per the resolution plan approved by the adjudicating authority, the appeals filed by the assessee are treated as dismissed in limini. However, liberty is given to the parties to revive /restitute all the aforesaid appeals after the moratorium period expires or as approved by the adjudicating authority. 6. In the result, all the appeals filed by the assessee are dismissed in limini. Orders pronounced in the open court on 4 th July, 2022. Sd/- Sd/- (S. Rifaur Rahman) (Amit Shukla) Accountant Member Judicial Member मुंबई Mumbai;नदनधंक Dated : 04/07/2022 4 I.T.A. No. 1227,1228,1229 & 909/Mum/2019 M/s Raj Oils Mills Ltd. Sr.PS. Dhananjay आदेशकीप्रतितितिअग्रेतिि/Copy of the Order forwarded to : 1. अपीलधथी/ The Appellant 2. प्रत्यथी/ The Respondent 3. आयकरआयुक्त(अपील) / The CIT(A) 4. आयकरआयुक्त/ CIT- concerned 5. नवभधगीयप्रनतनननध, आयकरअपीलीयअनधकरण, मुंबई/ DR, ITAT, Mumbai 6. गधर्ाफधईल / Guard File आदेशानुसार/ BY ORDER, .उि/सहायकिंजीकार (Dy./Asstt.Registrar) आयकरअिीिीयअतिकरण, मुंबई/ ITAT, Mumbai