M/s Jay Polychem (India) Ltd., New Delhi V. ACIT, New Delhi

ITA 6463/DEL/2016

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 5793 (ITAT-DELHI)
• Duration Of Justice: 4 year(s) 8 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-09-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2006-2007
• Appeal Filed On: 19-12-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: N O N E
• Keywords: Condonation of delay
• Section: 13

Judgement Text

PAGE | 1 IN THE INCOME TAX APPELLATE TRIBUNAL [ DELHI BENCH C: NEW DELHI ] BEFORE MS. SUCHITRA KAMBLE, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER (THROUGH VIDEO CONFERENCING) ITA. NOS. 6463 AND 6464/DEL/2016 (ASSESSMENT YEARS: 2006-07 & 2007-08) M/S. JAY POLYCHEM (INDIA) LTD., B115, OKHLA INDUSTRIAL AREA, NEW DELHI 110 024. PAN: AAACJ0657M IRP MR. RAJNISH SINGH, 219, VATS MARKET, SHIVA MARKET, PITAMPURA, NEW DELHI34. VS. A CIT, CENTRAL CIRCLE : 3, NEW DELHI (APPELLANT) (RESPONDENT) ASSESSEE BY : N O N E; DEPARTMENT BY : MS. SUNITA SINGH [CIT] DR; DATE OF HEARING 13 /0 9 /2021 DATE OF PRONOUNCEMENT 1 3 / 0 9 /2021 O R D E R PER PRASHANT MAHARISHI, A. M. 1. I.T. APPEAL NOS. 6463 AND 6464/DEL/2016 ARE FILED BY THE ABOVE ASSESSEE. NOTICES WERE ISSUED AT THE ADDRESS GIVEN IN COLUMN NO. 11 OF FORM NO. 36 FILED BY THE ASSESSEE. SUCH NOTICES HAVE BEEN RETURNED BY THE POSTAL AUTHORITIES STATING THAT NO SUCH COMPANY EXISTS AT THE GIVEN ADDRESS. 2. THE LD. DR SUBMITTED THAT ABOVE COMPANY HAS BEEN REFERRED TO THE INSOLVENCY & BANKRUPTCY CODE, 2016. NOBODY APPEARED ON BEHALF OF THE ASSESSEE. 3. ON CAREFUL CONSIDERATION IT IS FOUND THAT THE ABOVE COMPANY HAS BEEN REFERRED FOR INITIATION OF CORPORATE INSOLVENCY PROCESS IN TERMS OF SECTION 9 OF THE INSOLVENCY & BANKRUPTCY CODE, 2016. THE NATIONAL COMPANY LAW PAGE | 2 TRIBUNAL, NEW DELHI BENCH IN IB 419 (ND) 2017 VIDE ORDER DATED 13 TH APRIL, 2018 HAS REFERRED THIS COMPANY FOR INSOLVENCY PROCEEDINGS. MR. RAJNISH SINGH, 2019, SHIV MARKET, PITAMPURA, NEW DELHI-34, HAS ALSO BEEN APPOINTED AS IRP. THE PRESENT APPEALS ARE FOUND TO BE FILED BY SHRI SANDEEP SINGH MADHOK IN THE CAPACITY OF THE DIRECTOR OF THAT COMPANY. THE MOMENT IRP IS APPOINTED, THE BOARD OF THE COMPANY IS SUPER-CEDED. THEREFORE, THE APPEALS FILED BY THESE DIRECTORS ARE NOT MAINTAINABLE. IN VIEW OF THIS, WE DISMISS BOTH THE APPEALS FILED BY THE ASSESSEE WITH A LIBERTY THAT AS SOON AS THE COMMITTEE OF CREDITORS DIRECTS TO PURSUE THIS MATTER THEN THE IRP SHOULD FILE THESE APPEALS. IF IT IS SO DECIDED, THEN WE GIVE LIBERTY TO THE IRP EITHER TO MAKE AN APPLICATION FOR RECALL OF THIS ORDER BY FILING CORRECTED FORM NO. 36 OR TO FILE THE FRESH APPEALS WITH THE CONDONATION OF DELAY REQUEST. ACCORDINGLY, BOTH THE APPEALS FILED ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON : 13/09/2021. SD/-(SUCHITRA KAMBLE) SD/-(PRASHANT MAHARISHI) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 13/09/2021 *MEHTA* COPY FORWARDED TO 1. APPELLANT; 2. RESPONDENT 3. CIT 4. CIT (APPEALS) 5. DR:ITAT ASSISTANT REGISTRAR ITAT, NEW DELHI DATE OF DICTATION 1 3 . 0 9 . 2 0 2 1 PAGE | 3 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 1 3 . 0 9 . 2 0 2 1 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE OTHER MEMBER 1 3 . 0 9 . 2 0 2 1 DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR. PS/ PS 1 3 . 0 9 . 2 0 2 1 DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING MEMBER FOR PRONOUNCEMENT 1 3 . 0 9 . 2 0 2 1 DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. PS/ PS 1 3 . 0 9 . 2 0 2 1 DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WEBSITE OF ITAT 1 3 . 0 9 . 2 0 2 1 DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 1 3 . 0 9 . 2 0 2 1 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