DCIT, New Delhi V. M/s Punj Lloyd Ltd., New Delhi

MA 147/DEL/2020

AI Insights

The case involves the Income Tax Department (Revenue) and Punj Lloyd Ltd., where the Revenue filed a Miscellaneous Application against the dismissal of its appeal by the Income Tax Appellate Tribunal. The original appeal was dismissed with the provision that the Revenue could refile after the IBC proceedings concluded. The Revenue contested the dismissal, arguing that the appeal should not have been dismissed but rather kept in abeyance until the moratorium period under IBC was completed. The Tribunal, however, found that the dismissal was appropriate and that the Revenue's rights were preserved, allowing for a new appeal post-IBC proceedings.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 131642 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 3 month(s) 7 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 26-06-2023
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: F
• Next Hearing Date: 15-06-2023
• Assessment Year: 2011-2012
• Appeal Filed On: 19-03-2020
• Laws Referred To: Insolvency & Bankruptcy Code (IBC)
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘F’, NEW DELHI Before Sh. Saktijit Dey, Judicial Member Dr. B. R. R. Kumar, Accountant Member MA No. 147/Del/2020 (in ITA No. 2109/Del/2017 : Asstt. Year: 2011-12) DCIT, Central Circle-25, New Delhi Vs. M/s Punj Llyod Ltd., Punj Llyod House, 17-18, Nehru Place, New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACP0305Q Assessee by : Sh. Akshat Jain, CA Revenue by : Dr. Maninder Kaur, Sr. DR Date of Hearing: 16.06.2023 Date of Pronouncement: 27.06.2023 ORDER Per Dr. B. R. R. Kumar, Accountant Member: This Miscellaneous Application has been filed by the Revenue against the order dated 11.11.2019 passed by the Tribunal. 2. The appeal of the revenue has been dismissed with liberty to revenue to file fresh appeal after the conclusion of proceeding under Insolvency & Bankruptcy Code (IBC). 3. The revenue filed MA grudging that there was no justification for dismissal of the appeal of the revenue and the appeal should have been kept in abeyance till completion of moratorium period. MA No. 147/Del/2020 Punj Llyod 2 4. We find that the Tribunal has given liberty to the revenue to approach afresh after conclusion of the proceedings under IBC. The rights of the revenue have not been in jeopardy. Hence, the MA of the revenue is hereby dismissed. 5. In the result, the Miscellaneous Application of the Revenue is dismissed. Order Pronounced in the Open Court on 27/06/2023. Sd/- Sd/- (Saktijit Dey) (Dr. B. R. R. Kumar) Judicial Member Accountant Member Dated: 27/06/2023 *Subodh Kumar, Sr. PS* Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR