Worlds Window Impex India Pvt. Ltd, New Delhi V. ACIT, Spl, Range-9, New Delhi

ITA 3429/DEL/2019

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 4100 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 4 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-08-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: F
• Assessment Year: 2014-2015
• Appeal Filed On: 21-04-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Liquidation

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “F” NEW DELHI BEFORE SHRI C.M GARG, JUDICIAL MEMBER AND SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER आयकर अपील सं./I.T. A. No.3429/Del/2019 ( नधा रण वष / Assess ment Yea r : 2014-15) W o r ld s W i n d o w C / o M / s. R R A T a x i n d i a D - 2 8 , S o u th E x t e n s io n , Pa r t- I , N e w D e lh i बनाम/ V s . A C I T S p e c ia l R a n g e - 9 N e w D e l h i थायी लेखा सं. /जीआइआर सं. / P A N / G I R N o . A A B C G 3 4 1 8 Q (अपीलाथ /Appellant) . . ( यथ / Respondent) अपीलाथ ओर से /Appellant by : Sh. Deepesh Garg, Advocate यथ क ओर से / Respondent by : Ms. Sapna Bhatia, CIT DR स ु नवाई क तार ख / D a t e o f H e a r i n g 23.08.2022 घोषणा क तार ख /D a t e o f P r o n o u n c e m e n t 23.08.2022 आदेश/O R D E R PER PRADIP KUMAR KEDIA, AM: The captioned appeal has been filed at the instance of the assessee against the order of the Addl. Co mmissioner of Inco me Tax, Special, Range-9, Ne w Delhi dated 25.02.2019 concerning AY 2014- 15. 2. When the matter was called for hearing the ld. Counsel for the assessee pointed out that an application for liquidation has been filed before the National Company Law Tribunal, New Delhi Bench by the Financial creditor namely State Bank of India. The application moved by SBI under section 7 of the code for alleged has been admitted and the Delhi Bench by its order dated 23.12.2021 have declared moratorium in terms of section 14 of the Insolvency and Bankruptcy Code, 2016 as per para 15 of its order. 3. The Ld. Counsel accordingly submitted that the present appeal in such circumstances cannot be pursued in view of the overriding provisions of insolvency code but however, prayed for liberty to revive the captioned appeal as and when the moratorium period is over or revival of company takes place. 4. The Ld. DR for the revenue did not express any objection to such plea of the assessee. 5. In the light of statutory provision and in the light of decision of the Hon'ble Supreme Court in the case of Pr. CIT Vs. Monnet Ispat and Energy Limited (2019) 107 taxmann.com 481 and also in the light of the overriding provision of the code in terms of section 238 of the Act, the assessee is estopped to pursue the captioned appeal. 6. For such reasons, the appeal of the assessee is dismissed with a liberty to the assessee to seek remedial measures in accordance with law as and when the moratorium period is over or revival of the assessee company takes place. 7. In the result, the appeal of the assessee stands dismissed. Sd/- Sd/- ( C. M. GARG) ( PRADIP KUMAR KEDIA) JUDI CIAL ME MBER ACCOUNTANT M EMBE R Dated:23/08/2022 *Neha, Sr. Private Secretary* Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI This Order pronounced on 23/08/2022 Date of dictation 23.08.2022 Date on which the typed draft is placed before the dictating Member 24.08.2022 Date on which the typed draft is placed before the Other Member 24.08.2022 Date on which the approved draft comes to the Sr. PS/PS 24.08.2022 Date on which the fair order is placed before the Dictating Member for pronouncement 24.08.2022 Date on which the fair order comes back to the Sr. PS/PS 24.08.2022 Date on which the final order is uploaded on the website of ITAT 24.08.2022 Date on which the file goes to the Bench Clerk 24.08.2022 Date on which the file goes to the Head Clerk