M/s. Lanco Infratech Ltd., Gurgaon V. ACIT, New Delhi

ITA 3641/DEL/2016

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 4557 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 2 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-08-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2012-2013
• Appeal Filed On: 20-06-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: ASHIMA NEB
• Assessee Lawyers: VAIJAYANT POLIWAL
• Keywords: Liquidation

Judgement Text

IN THE INCOME-TAX APPELLATE TRIBUNAL, DELHI BENCH B, NEW DELHI BEFORE : SHRI R.K. PANDA, ACCOUNTANT MEMBER AND MS. SUCHITRA KAMBLE, JUDICIAL MEMBER ITA NO. 3641/DEL/2016 ASSESSMENT YEAR: 2012-13 LANCO INFRATECH LTD. PLOT NO.397, UDYOG VIHAR, PHASE -3 GURGAON 122 016 PAN: AAACL3449H (APPELLANT) VS. ACIT CIRCLE-75(1), AAYAKAR BHAWAN, 4TH FLOOR, DISTT. CENTRE, LAXMI NAGAR, NEW DELHI 110 092 (RESPONDENT) ASSESSEE BY SH. VAIJAYANT POLIWAL, ADV. FOR LIQUIDATOR REVENUE BY MS. ASHIMA NEB, SR. DR ORDER PER SUCHITRA KAMBLE, JM: THE APPEAL FILED BY THE ASSESSEE IS AGAINST THE ORD ER DATED 18.03.2016 PASSED BY THE CIT(A)-41, NEW DELHI PERTAINING TO AS SESSMENT YEAR 2012-13. 2. THE LD. AR SUBMITTED THE LETTER DATED 27 TH AUGUST, 2019 AT THE TIME OF HEARING FOR REQUEST FOR WITHDRAWAL OF THE APPEAL. T HE LD. AR FURTHER SUBMITTED THAT SINCE THE FILING OF THIS APPEAL THE ASSESSEE HAS BEEN ORDERED TO BE LIQUIDATED IN ACCORDANCE WITH THE PROVISIONS OF THE INSOLVENCY AND BANKRUPTCY CODE, 2016 VIDE ORDERS OF THE NATIONAL C OMPANY LAW TRIBUNAL, HYDERABAD (NCLT) DATED 27 TH AUGUST, 2018. IN LIGHT OF THE SAID FACT AND DATE OF HEARING 28.08.2019 DATE OF PRONOUNCEMENT 28 .08.2019 SUBSEQUENT FACTS WHICH HAVE BEEN HIGHLIGHTED HEREIN BELOW, IT WAS SUBMITTED BY THE LD. AR THAT THE QUESTION PRESENTED FOR DETER MINATION BEFORE THIS TRIBUNAL REMAINS ONLY OF ACADEMIC IMPORTANCE SINCE THE ASSESSEE DOES NOT HAVE SUFFICIENT FUNDS TO PAY THE BALANCE DUES TO TH E INCOME TAX DEPARTMENT EVEN IF THIS APPEAL IS DISMISSED. THEREFORE, THE LD . AR FURTHER SUBMITTED THAT THE ASSESSEE IS HEREBY WITHDRAWING THE APPEAL WITH THE REQUEST THAT THE WITHDRAWAL SHOULD NOT BE CONSIDERED AS CONCESSION T O THE ISSUES RAISED IN THE APPEAL. THE LD. AR FURTHER SUBMITTED THAT THE ASSES SEE CONTINUE TO DISPUTE THE CORRECTNESS OF THE ADDITIONS MADE BY THE ASSESSING OFFICER AND AS UPHELD BY THE CIT(A), HOWEVER, IN VIEW OF THE AFORESAID REASO N, THE LD. AR WISH TO WITHDRAW THE APPEAL. 3. THE LD. DR DID NOT HAVE ANY OBJECTION FOR WITHDR AWAL 4. WE HAVE CONSIDERED THE REQUEST OF THE WITHDRAWAL MADE BY THE LD. AR AND PERUSED THE MATERIAL AVAILABLE ON RECORD. WE AR E ALLOWING THE ASSESSEE TO WITHDRAW THE APPEAL AS PER LETTER DATED 27 TH AUGUST, 2019 FILED BY THE LD. AR AT THE TIME OF HEARING. THUS, APPEAL FILED BY THE A SSESSEE IS DISMISSED AS WITHDRAWN WITH LIBERTY TO REMAIN THE ISSUES OPEN AT THE APPROPRIATE STAGE. 5. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 28 TH DAY OF AUGUST, 2019. SD/- SD/- (R.K. PANDA) (SUCHITR A KAMBLE) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 28 TH AUGUST, 2019 * COPY OF ORDER FORWARDED TO: (1) THE APPELLANT (2) THE RESPONDENT (3) COMMISSIONER (4) CIT(A) (5) DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES, NEW DELHI DATE 1. DRAFT DICTATED (DNS) 28.08.19 PS 2. DRAFT PLACED BEFORE AUTHOR 28.08.19 PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER JM/AM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER. JM/A M 5. APPROVED DRAFT COMES TO THE SR.PS/PS PS/PS 6. ORDER UPLOADED ON PS/SR PS 6. KEPT FOR PRONOUNCEMENT ON PS 7. FILE SENT TO THE BENCH CLERK PS 8. DATE ON WHICH FILE GOES TO THE AR 9. DATE ON WHICH FILE GOES TO THE HEAD CLERK. 10. DATE OF DISPATCH OF ORDER.