DCIT, Circle-2(2), New Delhi V. M/s. Ansal Properties and Infrastructure Ltd, New Delhi

ITA 5239/DEL/2017

• Counselvise Citation: [2021] 104 COUNSELVISE.COM (IT) 9120 (ITAT-DELHI)
• Duration Of Justice: 4 year(s) 2 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-11-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2010-2011
• Appeal Filed On: 10-08-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: R. N. SHARMA

Judgement Text

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. No. 5239/Del/2017 (Assessment Year: 2010-11) DCIT, Circle : 2 (2) New Delhi. Vs. M/s. Ansal Properties and Infrastructure Ltd., 115–Ansal Bhawan, 16 – K. G. Marg, New Delhi – 110 001. PAN: AAACA0006D (Appellant) (Respondent) Assessee by : Shri R. N. Sharma, A. R.; Revenue by: Shri Sat Pal Gulati [CIT] – D. R.; Date of Hearing : 18/08/2021 Date of pronouncement : 08/11/2021 O R D E R PER AMIT SHUKLA, J. M. : 1. This appeal is filed by the ACIT, Circle 2 (2) New Delhi, against M/s. Ansal Properties & Infrastructure Ltd., for assessment year 2010-11, against the levy of the penalty which was deleted by the ld. CIT (Appeals). 2. At the time of hearing, it has come to our notice that the above Respondent – company has been referred to the Insolvency & Bankruptcy Code, 2016 (IBC) and on March 17, 2020 the NCLT has allowed a plea to initiate insolvency proceedings and appointed Insolvency Resolution Professional (IRP). Therefore, according to the provisions of Section 14 of the IBC, 2016, no suit or proceedings can be initiated against the above company. 3. The ld. DR was confronted with the same. He requested for the liberty to file as soon as insolvency proceedings are over. 4. On careful consideration, we find that Section 14 of the IBC, 2016 prohibits continuation of any proceedings against the company, which has been referred to insolvency proceedings under Section 7 of IBC, 2016. In view of Page | 2 this, we dismiss the appeal of the Revenue with liberty to file fresh appeal as soon as IBC proceedings are over or withdrawn. The appeal is dismissed. Order pronounced in the open court on : 08/11/2021. Sd/- Sd/- (PRASHANT MAHARISHI) ( AMIT SHUKLA ) ACCOUNTANT MEMBER JUDICIAL MEMBER Dated : 08/11/2021. *MEHTA* Copy forwarded to 1. Appellant; 2. Respondent 3. CIT 4. CIT (Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT, New Delhi Date of dictation 08.11.2021 Date on which the typed draft is placed before the dictating member 08.11.2021 Date on which the typed draft is placed before the other member 08.11.2021 Date on which the approved draft comes to the Sr. PS/ PS 08.11.2021 Date on which the fair order is placed before the dictating member for pronouncement 08.11.2021 Date on which the fair order comes back to the Sr. PS/ PS 08.11.2021 Date on which the final order is uploaded on the website of ITAT 08.11.2021 date on which the file goes to the Bench Clerk 08.11.2021 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