DCIT, CHENNAI V. Aircel Limited, CHENNAI

ITA 215/CHNY/2017

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 0427 (ITAT-CHENNAI)
• Duration Of Justice: 4 year(s) 11 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-01-2022
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2005-2006
• Appeal Filed On: 22-01-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL

Judgement Text

आयकर अपीलीय अिधकरण ‘एʼ ायपीठ चे ई म । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, CHENNAI माननीय ी महावीर िसंह, उपा"# एवं माननीय ी मनोज कु मार अ'वाल ,लेखा सद* के सम#। BEFORE HON’BLE SHRI MAHAVIR SINGH, VP AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकर अपील सं./ ITA No. 2038/Chny/2018 (िनधा+रण वष+ / Assessment Year: 2009-10) & CO No. 39/Chny/2017 ( िनधा+रण वष+ / Assessment Year: 2005-06) Aircel Limited, 769, Spencers Plaza, 5 th Floor, Mount Road, Anna Salai, Chennai – 600 002. बनाम/ V s. ACIT Corporate Circle 1(1), Chennai. & आयकर अपील सं./ ITA No. 215/Chny/2017 (िनधा+रण वष+ / Assessment Year: 2005-06) DCIT Corporate Circle 1(1), Chennai 600 034. बनाम / V s. Aircel Limited, 769, Spencers Plaza, 5 th Floor, Mount Road, Anna Salai, Chennai – 600 002. थायी ले खा सं. /जीआइ आर सं. /P A N/ G I R No . AAACS -4449 -J (अ पीलाथ /Appellant) : ( थ / Respondent) Assessee by : Shri. Ashik Shah (CA) – Ld. AR Revenue by : Shri M. Rajan- Ld. CIT-DR सुनवाई की तारीख/ Date of Hearing : 22-12-2021 घोषणा की तारीख / Date of Pronouncement : 07-01-2022 ITA No: 2038/Chny/2018 & ITA No. 215/Chny/2017 & CO No. 39/Chny/2017 2 आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. During hearing of captioned matters, Ld. AR submitted that the assessee has approached Hon’ble National Company Law Tribunal (NCLT) for a resolution and a resolution professional has already been appointed. On account of the said order, a moratorium has been imposed with regard to any action against the company in terms of Sec.13 r.w.s. 14 of the code. It was further submitted that the assessee is at advanced stage of insolvency resolution process and resolution petition is expected to be decided in next couple of months. The Ld. AR also submitted that in similar factual background, the other appeals concerning assessee has already been restored back to the file of Ld. CIT(A) to pass fresh orders after considering the orders of Hon’ble NCLT. The Ld. AR also drew attention to the fact that the assessee’s appeal has been filed with a delay of 98 days, which may be condoned since the powers of the Board of Directors stood suspended and were exercised by resolution professional. The Ld. CIT-DR could not controvert these facts. 2. Keeping in view the aforesaid submissions, the delay of 98 days in assessee’s appeal stand condoned. At the same time, captioned appeals as well as cross-objection stand restored back to the file of Ld. CIT(A) to pass fresh orders after considering the orders of Hon’ble NCLT as submitted by Ld. AR. ITA No: 2038/Chny/2018 & ITA No. 215/Chny/2017 & CO No. 39/Chny/2017 3 3. The appeals as well as cross-objection stand allowed for statistical purposes. Order pronounced on 07 th January, 2022. Sd/- Sd/- (Mahavir Singh) (Manoj Kumar Aggarwal) उपा)* / Vice President लेखा सद, / Accountant Member चे.ई Chennai; िदनांक Dated : 07/01/2022 JPV JPVJPV JPV आदेशकीEितिलिपअ'ेिषत/Copy of the Order forwarded to : 1. अपीलाथ / The Appellant 2. थ / The Respondent 3. आयकरआयु6(अपील) / The CIT(A) 4. आयकरआयु6/ CIT– concerned 5. िवभागीय ितिनिध, आयकरअपीलीयअिधकरण, चे.ई / DR, ITAT, Chennai 6. गाड;फाईल / Guard File आदेशानुसार / BY ORDER, उप/सहायक पंजीकार (Dy./Asstt.Registrar) आयकरअपीलीयअिधकरण, चे.ई / ITAT, Chennai