ACIT, CC- 17, NEW DELHI V. AERENS GOLDSOUK INTERNATIONAL LTD., NEW DELHI

ITA 4430/DEL/2017

• Counselvise Citation: [2021] 129 COUNSELVISE.COM (IT) 9838 (ITAT-DELHI)
• Duration Of Justice: 4 year(s) 1 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-08-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2012-2013
• Appeal Filed On: 03-07-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SATPAL GULATI
• Assessee Lawyers: N O N E

Judgement Text

ITAS. 4427 TO 4430/DEL/2017 PAGE | 1 INCOME TAX APPELLATE TRIBUNAL [ DELHI BENCH A: NEW DELHI ] BEFORE SHRI AMIT SHUKLA, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER (THROUGH VIDEO CONFERENCING) ITA. NOS. 4427, 4428, 4429 & 4430/DEL/2017 (ASSESSMENT YEARS: 2008-09 & 2010-11 TO 2012-13) ACIT , CENTRAL CIRCLE : 17, NEW DELHI. VS. M/S. AERENS GOLDSOUK INTERNATIONAL LIMITED, PLOT NO. 1, LOCAL SHOPPING CENTRE, SHARDS NIKETAN, PITAMPURA, N. DELHI110034 PAN: AAECA1782A (APPELLANT) (RESPONDENT) ASSESSEE BY : N O N E; DEPARTMENT BY: SHRI SATPAL GULATI [CIT] DR; DATE OF HEARING : 1 0 /0 8 /2021 DATE OF PRONOUNCEMENT : 1 0 /0 8 /2021 O R D E R PER BENCH : 1. THESE FOUR APPEALS ARE FILED BY THE REVENUE AGAINST THE ORDER PASSED BY THE LD. COMMISSIONER OF INCOME TAX (APPEALS)25, NEW DELHI, FOR ASSESSMENT YEARS 2008-09, 2010-11, 2011-12 AND 2012-13. 2. AT THE TIME OF HEARING DESPITE NOTICE NONE APPEARED ON BEHALF OF THE ASSESSEE. IT HAS COME TO THE NOTICE THAT THE ABOVE COMPANY HAS BEEN REFERRED TO NCLT UNDER SECTION 7 OF IBC CODE, 2016 WHEREIN THE NCLT HAS PASSED AN ORDER ON 09 TH JANUARY, 2020. THEREFORE, TILL THE RESOLUTION PROCESS IN THE ABOVE COMPANY IS NOT OVER, NO PROCEEDINGS AGAINST THAT COMPANY CAN CONTINUE, ACCORDING TO SECTION 14 IBC CODE, 2016. 3. THE LD. DR ALSO AGREED TO THE SAME. 4. IN VIEW OF THE ABOVE FACTS ALL THESE APPEALS FILED BY THE ASSESSING OFFICER, CIRCLE 17, NEW DELHI, ARE DISMISSED IN VIEW OF SECTION 14 OF THE IBC CODE, ITAS. 4427 TO 4430/DEL/2017 PAGE | 2 2016 . HOWEVER WE GRANT LIBERTY TO THE LD. ASSESSING OFFICER THAT AS SOON AS THE MORATORIUM PERIOD IS OVER OR IN CASE WHENEVER THE RESPONDENT COMPANY GOES OUT OF IBC CODE, 2016, HE MAY FILE AN APPLICATION FOR RECALL OF THE ABOVE ORDER FOR PURSUING THE APPEAL IS ON THE MERIT. 5. IN THE RESULT, FOR THE ABOVE REASONS, THE APPEALS OF THE LEARNED AO ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON : 10/08/2021. SD/- SD/- ( AMIT SHUKLA ) (PRASHANT MAHARISHI) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 10/08/2021. *MEHTA* COPY FORWARDED TO 1. APPELLANT; 2. RESPONDENT 3. CIT 4. CIT (APPEALS) 5. DR:ITAT ASSISTANT REGISTRAR ITAT, NEW DELHI ITAS. 4427 TO 4430/DEL/2017 PAGE | 3 D ATE OF DICTATION 10.08.2021 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 10.08.2021 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE OTHER MEMBER 10.08.2021 DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR. PS/ PS 10.08.2021 DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING MEMBER FOR PRONOUNCEMENT 10.08.2021 DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. PS/ PS 10.08.2021 DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WEBSITE OF ITAT 10.08.2021 DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 10.08.2021 DATE ON WHICH THE FILE GOES TO THE HEAD CLERK THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER DATE OF DISPATCH OF THE ORDER