ASSTT. CIT CENTRAL CIR-1(3), MUMBAI V. M/S. PANDHE INFRACONS P. LTD., MUMBAI

ITA 1986/MUM/2020

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 4003 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 4 month(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-04-2022
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2011-2012
• Appeal Filed On: 08-12-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, ‘C‘ BENCH MUMBAI BEFORE: SHRI M.BALAGANESH, ACCOUNTANT MEMBER & MS. KAVITHA RAJAGOPAL, JUDICIAL MEMBER ITA No.1986/Mum/2020 (Asse ssment Year :2011-12) Asst. Commissioner of Income Tax Central Circle 1(3) Mumbai 905, 9 th Floor, Pratishtha Bhavan Old CGO Building (Annexe) M.K.Road, Mumbai-400020 Vs. M/s. Pandhe Infracons P. Ltd., 157, Sushila Apartments Railway Lines Near Kalajapur Maruti Mandir Solapur-413001 PAN/GIR No.AAECP9086A (Appellant) .. (Respondent) ITA No.1812/Mum/2020 (Asse ssment Year :2011-12) M/s. Pandhe Infracons P. Ltd., 157, Sushila Apartments Railway Lines Near Kalajapur Maruti Mandir Solapur-413001 Vs. Dy. Commissioner of Income Tax, Central Circle 1(3) Mumbai-400020 PAN/GIR No.AAECP9086A (Appellant) .. (Respondent) Revenue by Shri Sunil A Umap Assessee by None Date of Hearing 21/04/2022 Date of Pronouncement 25/04/2022 ITA No. 1986 & 1812/Mum/2020 M/s. Pandhe Infracon Pvt Ltd., 2 आदेश / O R D E R PER M. BALAGANESH (A.M): These cross appeals in ITA Nos.1986/Mum/2020 & 1812/Mum/2020 for A.Y.2011-12 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-47, Mumbai in appeal No.CIT(A)- 47/10180/18-19 dated 18/03/2020 (ld. CIT(A) in short) against the order of assessment passed u/s.153A r.w.s.143(3) of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 30/12/2018 by the ld. Dy. Commissioner of Income Tax, Central Circle-1(3), Mumbai (hereinafter referred to as ld. AO). 2. None appeared on behalf of the assessee. At the outset, we find that an interim resolution professional has been appointed under the provisions of Insolvency and Bankruptcy Code, 2016 (IBC) by the Hon’ble National Company Law Tribunal (NCLT) vide its order dated 06/09/2021 in the instance case. On earlier occasions, this Tribunal taking note of the same had served the notice on the interim resolution professional. Subsequently, Mr. Brijendra Kumar Mishra was appointed as resolution professional vide meeting of Company of Creditors (COC) dated 02/12/2021. As per Section 14 of the IBC 2016, there cannot be any continuation of proceedings before this Tribunal against the corporate debtor. Admittedly, the assessee herein is a corporate debtor. Hence, no proceedings shall remain pending with this Tribunal in respect of this assessee once the matter is under the purview of resolution professional. In view of the same, we dismiss the appeal of the assessee and also dismiss the appeal of the Revenue, with a liberty given to both the parties to revive these appeals, if they so desire, after the completion of ITA No. 1986 & 1812/Mum/2020 M/s. Pandhe Infracon Pvt Ltd., 3 insolvency resolution process. Accordingly, the appeal of the assessee is dismissed and appeal of the Revenue is dismissed. 3. In the result, appeal of the assessee and appeal of the Revenue is dismissed. Order pronounced on 25/04/2022 by way of proper mentioning in the notice board. Sd/- (KAVITHA RAJAGOPAL) Sd/- (M.BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER Mumbai; Dated 25/ 04/2022 KARUNA, sr.ps Copy of the Order forwarded to : BY ORDER, (Asstt. Registrar) ITAT, Mumbai 1. The Appellant 2. The Respondent. 3. The CIT(A), Mumbai. 4. CIT 5. DR, ITAT, Mumbai 6. Guard file. //True Copy//