ASST. CIT 5 (2)(1), Mumbai V. JET LITE (INDIA) LTD., DELHI

ITA 5703/MUM/2019

AI Insights

The case involves the Assistant Commissioner of Income Tax (Asst. CIT) challenging the order of the Commissioner of Income Tax (Appeals) which had deleted various additions made by the Assessing Officer to the income of Jet Lite (India) Ltd. for the Assessment Year 2015-16. The Tribunal noted the absence of representation from the assessee despite multiple opportunities and proceeded to hear the Departmental Representative and decided based on the materials available. The core issue revolved around the deletions made by the CIT(A) which the Revenue contested. However, due to the ongoing insolvency proceedings under the Insolvency and Bankruptcy Code, 2016, the Tribunal dismissed the appeal with a provision to restore it after the moratorium period.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 299278 (ITAT-MUMBAI)
• Duration Of Justice: 3 year(s) 3 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-01-2023
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: F
• Next Hearing Date: 05-10-2022
• Assessment Year: 2015-2016
• Appeal Filed On: 04-09-2019
• Laws Referred To: Income Tax Act, 1961, Insolvency and Bankruptcy Code, 2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 250; 48; 20

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND MS. KAVITHA RAJAGOPAL, JM IT A N o. 57 03 / Mu m/ 20 19 (As se ss me nt Y ea r: 20 15- 16 ) Asst. CIT-5(2)(1) Mumbai Vs. Jet Lite (India) Ltd. Jetair House Community Centre Yusuf Sarai, New Delhi-110 049 PA N/ GI R No . AA D CS 4 48 0 L (Appellant) : (Respondent) Appellant by : None Respondent by : Shri Sunil A. Umap Dat e of H ea ri ng : 06.10.2022 Dat e of P ro no un ce me nt : 02.01.2023 O R D E R Per Kavitha Rajagopal, J. M.: This appeal has been filed by the Revenue, challenging the order of the learned Commissioner of Income Tax (Appeals) (‘ld.CIT(A) for short), passed u/s. 250 of the Income Tax Act, 1961 (‘the Act'), relevant to the Assessment Year (‘A.Y.’ for short) 2015-16. 2. The Revenue has challenged the order of the ld. CIT(A) in deleting the various additions made by the Assessing Officer (A.O. for short), pertaining to different grounds. It is observed that there was no representation on behalf of the assessee, inspite of several opportunities given, we therefore proceed to decide this appeal by hearing the ld. 2 ITA No. 5 7 0 3 / M u m / 2 0 1 9 ( A . Y . 2 0 1 5 - 1 6 ) Asst. CIT vs. Jet Lite (India) Ltd. Departmental Representative (ld. DR for short) and on perusal of the available materials on record. 3. The brief facts are that the assessee is a scheduled airline company involved in the business of running domestic and international flights. The assessee filed its return of income dated 30.11.2015, declaring total loss of Rs.230,71,31,730/-. The assessee’s case was selected for scrutiny and the assessment order dated 07.11.2017 was passed u/s. 143(3), wherein the A.O. had made various additions/disallowances to the total income of the assessee. 4. The assessee was in appeal before the ld. CIT(A) challenging the assessment order passed by the A.O. The ld. CIT(A) deleted the impugned additions made by the A.O. 5. The Revenue is in appeal before us, challenging the order of the ld. CIT(A). 6. During the appellate proceeding, it is observed that the assessee company was undergoing insolvency proceedings before the Hon’ble National Company Law Tribunal and by invoking the provisions of section 14 of Insolvency and Bankruptcy Code, 2016, we are inclined to dismiss this appeal filed by the Revenue with the liberty that the A.O. may restore the appeal, if need be after the completion of the moratorium period. 7. In the result, this appeal filed by the Revenue is dismissed. Order pronounced in the open court on 02.01.2023 Sd/- Sd/- (Prashant Maharishi) (Kavitha Rajagopal) Accountant Member Judicial Member Mumbai; Dated : 02.01.2023 Roshani, Sr. PS 3 ITA No. 5 7 0 3 / M u m / 2 0 1 9 ( A . Y . 2 0 1 5 - 1 6 ) Asst. CIT vs. Jet Lite (India) Ltd. Copy of the Order forwarded to : 1. The Appellant 2. The Respondent 3. The CIT(A) 4. CIT - concerned 5. DR, ITAT, Mumbai 6. Guard File BY ORDER, (Dy./Asstt. Registrar) ITAT, Mumbai