ACIT, Central circle-02, New Delhi V. Abhinav Steels & Power Ltd., New Delhi

ITA 3391/DEL/2019

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 2972 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-05-2022
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2015-2016
• Appeal Filed On: 17-04-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A” NEW DELHI BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER AND SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER आयकर अपील सं./I. T. A. No. 3391/ De l/2019 ( नधा रण वष / As s es s ment Yea r : 2015-16) ACI T Ce ntr al Ci rcl e -02 New Del hi बनाम/ Vs. Abhina v Ste els & Powe r Lt d. Pl ot No.3, 3 r d Fl oor, Ma have er J i Co mp le x, LSC, Del hi-110092 थायी लेखा सं./जीआइआर सं./PAN/ GIR No. AABCA3947H (अपीलाथ /Appellant) .. ( यथ / Respondent) अपीलाथ ओर से /Appellant by : Shri Sanjay Kumar, Sr. DR यथ क ओर से / Respondent by : Shri Aman Garg, CA स ु नवाई क तार ख / Date of Hear ing 05.05.2022 घोषणा क तार ख /Date of Pr onounce ment 05.05.2022 आदेश/ O R D E R PER PRADIP KUMAR KEDIA, AM: The captioned appeal has been filed at the instance of the Revenue against the order of the Commissioner of Income Tax (Appeals)-32, New Delhi (‘CIT(A)’ in short), dated 21.01.2019 concerning AY 2015-16. 2. When the matter was called for hearing, the Ld. Counsel for the assessee in Revenue’s appeal pointed out that the National Company Law Tribunal (‘NCLT’ in short) at New Delhi in Company Petition No.(IB)- 275(ND)/2019 has passed an order dated 31.07.2019 under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Ld. Counsel for the assessee adverted para 49 of the aforesaid order delivered by NCLT whereby moratorium in terms of Section 14 of the Insolvency & Bankruptcy Code, 2016 has been declared which interalia prohibits continuation of pending proceedings against the assessee including execution of any judgment, decree or in any court of law, Tribunal, arbitration panel or other authority. It was thus submitted that in view of the order of NCLT bearing overriding effect in terms of Insolvency and Bankruptcy code 2016, the Tribunal is prevented by law to continue with the pending appeal. 3. The Ld. DR for the revenue did not offer any comments on the aforesaid position convassed on behalf of the assessee. 4. The co-ordinate Bench of Tribunal in Dy. CIT Vs. Global Softech Ltd. ITA No.2394/Mum/2017 order dated 16.03.2022 has, in similar fact situation, held that in the light of resolution plan, which is binding on the Tribunal, such pending appeals cannot proceed for adjudication. 5. In the result, appeal filed by the Revenue is dismissed. Sd/ - Sd/- (N. K. CHOUDH RY) (PRADI P KUM AR KEDI A) JUDI CI AL M EMBER ACCOUN TANT M EM BER Dated: /05/2022 *Neha, Sr. Private Secretary Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI Order pronounced in the open court on 05/05/2022