DCIT, Corporation Circle- 1(1), Bhubaneswar V. ARSS Infrastructure Projects Ltd., Bhubaneswar

ITA 228/CTK/2023

• Counselvise Citation: [2024] 100 COUNSELVISE.COM (IT) 2873 (ITAT-CUTTACK)
• Duration Of Justice: 10 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-04-2024
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 29-01-2024
• Assessment Year: 2015-2016
• Appeal Filed On: 21-06-2023
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, BEFORE MANISH AGARWAL Deputy Commissioner of Income Tax, Central Circle Bhubaneswar PAN/GIR No (Appellant Per Bench These are the ld CIT(A)- No.Bhubaneswar 18 for the assessment years 2011 2. Shri Sanjay Kumar, ld CIT DR appeared for the the Corporate Insolvency Resolution Process (CIRP) is operating on the assessee and the Adjudicating Authority has declared moratorium u/s.14 of IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH, CUTTACK BEFORE SHRI GEORGE MATHAN, JUDICIAL AND MANISH AGARWAL, ACCOUNTANT MEMBER ITA Nos.227 & 228/CTK/20 Assessment Years : 2011-12 & 2015 Deputy Commissioner of Tax, Central Circle-1, Bhubaneswar Vs. M/s. Arss Infrastructure Projects Limited, Plot No.38, Sector-A, Zone Bhubaneswar PAN/GIR No. (Appellant) .. ( Respondent Assessee by : None Revenue by : Shri Sanjay Kumar, CIT Date of Hearing : 23/0 Date of Pronouncement : 23/0 O R D E R These are appeals filed by the revenue against the -2, Bhubaneswar dated 20.3.2023 and 27.3.2023 in Appeal No.Bhubaneswar-1/ 10358/2018-19 and No. Bhubaneswar 18 for the assessment years 2011-12 and 2015-16, respectively. Sanjay Kumar, ld CIT DR appeared for the revenue. appeared for the assessee. However, letter has been filed mentioning the Corporate Insolvency Resolution Process (CIRP) is operating on the assessee and the Adjudicating Authority has declared moratorium u/s.14 of Page1 | 3 IN THE INCOME TAX APPELLATE TRIBUNAL, JUDICIAL MEMBER , ACCOUNTANT MEMBER /CTK/2023 12 & 2015-16 M/s. Arss Infrastructure Projects Limited, Plot No.38, A, Zone-D, MIE, Bhubaneswar Respondent) : Shri Sanjay Kumar, CIT DR 04/2024 /04/2024 against the separate orders of 20.3.2023 and 27.3.2023 in Appeal Bhubaneswar-1/11046/2017- 16, respectively. appeared for the revenue. None been filed mentioning that the Corporate Insolvency Resolution Process (CIRP) is operating on the assessee and the Adjudicating Authority has declared moratorium u/s.14 of ITA Nos.227 & 228/CTK/2023 Assessment Years : 2011-12 & 2015-16 Page2 | 3 the Insolvency and Bankruptcy Code, 2016. It was the prayer that the appeal hearing be held back or kept in abeyance till the disposal of the NCLT order. 3. In reply, ld CIT DR submitted that setting aside of the appeals would cause prejudice to the assessee insofar as proceedings would get reinitiated. It was the submission that it would also cause prejudice to the revenue insofar as the revenue would not be able to contest these appeals. 4. We have considered the submission of ld CIT DR and the adjournment petition filed by the assessee. As rightly pointed out by ld CIT DR during the pendency of the proceedings before the NCLT in the insolvency proceedings, any fresh demand raised on the assessee would cause prejudice. This being so, the appeals filed by the revenue are dismissed subject to the condition that after completion of the insolvency proceedings before the NCLT, the revenue shall have the liberty to pray restoration of the appeals in the event that the revenue feels its interest are affected. 5. In the result, appeals filed by the revenue stand dismissed. Order dictated and pronounced in the open court on 23/04/2024. Sd/- sd/- (Manish Agarwal) (George Mathan) ACCOUNTANT MEMBER JUDICIAL MEMBER Cuttack; Dated 23/04/2024 ITA Nos.227 & 228/CTK/2023 Assessment Years : 2011-12 & 2015-16 Page3 | 3 B.K.Parida, SPS (OS) Copy of the Order forwarded to : By order Sr.Pvt.secretary ITAT, Cuttack 1. The appellant: Deputy Commissioner of Income Tax, Central Circle-1, Bhubaneswar 2. The Respondent: M/s. Arss Infrastructure Projects Limited, Plot No.38, Sector-A, Zone-D, MIE, Bhubaneswar 3. The CIT(A)-2, Bhubaneswar 4. Pr.CIT-2, Bhubaneswar 5. DR, ITAT, Cuttack 6. Guard file. //True Copy//