ACIT CC-11, MUMBAI V. M/S. ROOFIT INDUSTRIES, MUMBAI

ITSSA 297/MUM/2005

• Counselvise Citation: [2022] 104 COUNSELVISE.COM (IT) 4582 (ITAT-MUMBAI)
• Duration Of Justice: 16 year(s) 8 month(s) 17 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 27-04-2022
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: D
• Assessment Year: misc
• Appeal Filed On: 10-08-2005
• Result in Favour of: Revenue
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL “D” BENCH, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI S RIFAUR RAHMAN, ACCOUNTANT MEMBER IT(SS)A No. 297 & 298/Mum/2005 (A.Y: 01.04.1990 to 22.09.2000) ACIT-11 8 th Floor, R.No. 804, Old CGO Annexe, MK Road, Mumbai – 400020. Vs M/s Roofit IndustiresLtd New Bharat Bldg, Ghorupdeo Cross Lane No.1, Off Rambhau Bhogle Marg, Mumbai – 400033. ./ज आइआर ./PAN/GIR No. : AAACA7953K Appellant .. Respondent Appellant by : Mr.T.Shankar.DR Respondent by : None Date of Hearing 25.04.2022 Date of Pronouncement 26.04.2022 आद श / O R D E R PER PAVAN KUMAR GADALE J M : These are the appeals filed by the revenue against the different orders of the Commissioner of Income Tax (Appeals)-III, Mumbai. 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 IT(SS)No. 297 & 298/Mum/2005 Roofit Industries Ltd. - 2 - National Company Law Tribunal (NCLT), Mumbai dated 22.01.2018 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 appeals filed by the revenue and also keeping the appeals 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 appeals filed by the revenue. Further we grant the liberty to the appellant to move an application to recall the present order after the moratorium is over as per the provisions of IBC-2016 laws. 5. In the result, the appeals filed by the revenue are dismissed. Order pronounced in the open court on 26.04.2022 Sd/- Sd/- (S RIFAUR RAHMAN) (PAVAN KUMAR GADALE) ACCOUNTANT MEMBER JUDICIAL MEMBER Mumbai, Dated 26.04.2022 IT(SS)No. 297 & 298/Mum/2005 Roofit Industries Ltd. - 3 - 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