DILIP CHHABRIA PVT LTD., MUMBAI V. DY CIT 9 (3)(1), MUMBAI

ITA 7342/MUM/2019

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 3464 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 4 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-04-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: D
• Assessment Year: 2012-2013
• Appeal Filed On: 28-11-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 250

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI GAGAN GOYAL, ACCOUNTANT MEMBER ITA No. 7342/Mum/2019 (A.Y: 2012-13) Dilip Chhabria Designs Pvt Ltd., Keytuo Chemical Compound, Road No. 5 Kondivita Vil MIDC, Andheri (E), Mumbai – 400059 Vs. DCIT – 9(3)(1) Aayakar Bhavan, MK Road, Mumbai-400020 PAN/GIR No. : AAACD7823M Appellant .. Respondent Appellant by : None Respondent by : Mr.T. Shankar.CIT.DR Date of Hearing 12.04.2022 Date of Pronouncement 21.04.2022 आदेश / O R D E R PER PAVAN KUMAR GADALE JM: The assessee has filed the appeal against the order of Commissioner of Income Tax (Appeals)-16, Mumbai passed U/sec143(3) and 250 of the Act. ITA No. 7342/Mum/2019 Dilip Chhabria Design Pvt Ltd., Mumbai. - 2 - 2. At the time of hearing, the Ld.DR has brought to the knowledge of the bench that, the assessee has been referred to the Corporate Insolvency Resolution Process as per IBC-2016 Laws. Further the order passed by the National Company Law Tribunal (NCLT), Mumbai dated 17.09.2019 was brought on record. 3. We found as per the provisions of Sec. 14 of IBC- 2016 till the conclusion of proceedings under IBC-2016 no suit or proceedings can be continued against the corporate debtor. Considering the facts and circumstances, we are of the opinion that there is no point in proceeding with the appeal filed by the assessee and the pending is also a continuation of proceedings. 4. Accordingly, we considering the provisions of section14 of IBC-2016 Laws and the order of the NCLT dismiss the appeal filed by the assessee. Further we grant the liberty to the assessee to move an application ITA No. 7342/Mum/2019 Dilip Chhabria Design Pvt Ltd., Mumbai. - 3 - to recall the present order after the moratorium is over as per the provisions of IBC-2016 laws. 5. In the result, the appeal filed by the assessee is dismissed. Order pronounced in the open court on 21.04.2022 Sd/- Sd/- (GAGAN GOYAL) (PAVAN KUMAR GADALE) ACCOUNTANT MEMBER JUDICIAL MEMBER Mumbai, Dated 21.04.2022 KRK, PS Copy of the Order forwarded to : 1. The Appellant 2. The Respondent. 3. The CIT(A) 4. Concerned CIT 5. DR, ITAT, Mumbai 6. Guard file. आदेशान ु सार/ BY ORDER, //True Copy// 1. ( Asst. Registrar) ITAT, Mumbai