Shivam Water Treaters Pvt. Ltd., Ahmedabad V. The Dy. CIT, Circle-4(1)(1), Ahmedabad

MA 322/AHD/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 6233 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 year(s) 6 month(s) 22 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 21-04-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2012-2013
• Appeal Filed On: 30-09-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S S SHUKLA
• Keywords: Liquidation

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, AHMEDABAD (THROUGH VIRTUAL COURT) BEFORE SHRI AMARJIT SINGH, ACCOUNTANT MEMBER & MS. MADHUMITA ROY, JUDICIAL MEMBER M.A. NO.322/AHD/2019 (IN ITA NO. 2557/AHD/2017) (ASSESSMENT YEAR: 2012-13) SHIVAM WATER TREATERS P. LTD. SHIVAM HOUSE, KAHANKRUPA, DR. JIVRAJ MEHTA HOSPITAL, VASNA, AHMEDABAD-380007 VS. DCIT CIRCLE-4(1)(1), AHMEDABAD [ PAN NO. AAFCS5613R ] ( APPELLANT ) .. ( RESPONDENT ) APPELLANT BY : SHRI MAHESH CHHAJED, A.R. RESPONDENT BY : SHRI S. S. SHUKLA, SR. D.R. DATE OF HEARING 19/03/2021 DATE OF PRONOUNCEMENT 21/04/2021 O R D E R PER MS. MADHUMITA ROY - JM: THE INSTANT MISCELLANEOUS APPLICATION IS DIRECTED AGAINST THE ORDER DATED 20.03.2019 PASSED BY THE LD. TRIBUNAL WHEREBY AND W HEREUNDER THE MATTER WAS DISMISSED FOR DEFAULT SINCE NONE APPEARED ON BEHALF OF THE ASSESSEE AT THE TIME OF CALL. THE M.A. IS TIME BARRED BY 14 DAYS. HAVING REGARD TO THE SUBMISSIONS MADE BY THE LD. A.R, THE SPECIFIC FACTS AND CIRCUMSTANCES O F THE CASE AND THE NUMBER OF DAYS OF DELAY IN FILING OF APPEAL BEFORE US IS HEREBY CONDO NED. 3. AS APPEARED FROM THE SUBMISSION MADE BY THE LD. COUNSEL ON BEHALF OF THE ASSESSEE AND THE STATEMENT MADE IN THE MISCELLANEOU S APPLICATION THAT THE ASSESSEE WAS NOT ABLE TO APPEAR BEFORE THE TRIBUNAL AT THE DATE OF HEARING OF THE MATTER SINCE THE MANAGEMENT OF THE APPELLANT COMPANY AT THAT PARTICU LAR POINT OF TIME WAS BEING ENJOYED - 2 - MA N O.322/AHD/2019(IN ITA NO.2557/A/17) SHIVAM WATER TREATERS PVT. LTD. VS. DCIT ASST.YEAR 2012-13 BY THE RESOLUTION PROFESSIONAL APPOINTED BY THE C OURT AND NOT BY THE PROMOTERS AND/OR DIRECTORS OF THE APPELLANT COMPANY. HOWEVER, THE I SSUE OF INSOLVENCY PROCEEDING HAS BEEN REJECTED BY THE HONBLE SUPREME COURT, WHEN OR DERS PASSED BY THE HONBLE NCLT AND HIGH COURT WERE SET-ASIDE WHEREBY THE INSOLVEN CY PROCEEDING HAS BEEN CEASED AND THE MANAGEMENT OF THE APPELLANT COMPANY HAD BEEN AGAIN VESTED WITH THE PROMOTERS/DIRECTORS OF THE APPELLANT COMPANY. FINA LLY BY ON 20.03.2019 THE NCLT, MUMBAI BENCHES, HAS BEEN PLEASED TO PASS THE FOLLOW ING ORDERS IS:- IN THE CIRCUMSTANCES, MA 3206/2019 IS ALLOWED, AND THE APPLICANT IS DISCHARGED FROM THE DUTIES OF THE LIQUIDATOR, IN COMPLIANCE OF THE ORDER OF TH E HONBLE SUPREME COURT OF INDIA, DATED 18 TH SEPTEMBER 2019, PASSED IN CIVIL APPEAL NO. 4952/201 9. THE APPLICANT IS FURTHER DIRECTED TO HAND OVER ALL THE NECESSARY INFORMATION AS GATHERED IN T HE COURSE OF CIRP AND LIQUIDATION PROCESS, THE LIST OF WHICH IS ATTACHED WITH THE APPLICATION AS A NNEXURE V TO THE BOARD OF DIRECTORS OF THE CORPORATE DEBTOR. FURTHER, WE DIRECT THE MEMBERS OF ERSTWHILE COC TO REIMBURSE THE UNPAID PROFESSIONAL FEES AND COSTS INCURRED BY HER DURING LIQUIDATION PROCESS WI THIN SEVEN DAYS FROM THE DATE OF THIS ORDER AS STATED IN ANNEXURE VI OF THE PRESENT APPLICATION. IN COMPLIANCE WITH THE HONBLE SUPREME COURT OF IND IA ORDER, THE CORPORATE DEBTOR WILL BE GOVERNED BY ITS BOARD OF DIRECTORS. IN VIEW OF THE ABOVE WE FIND THAT THE PLEA TAKEN BY THE ASSESSEE FOR NOT BEEN ABLE TO APPEAR BEFORE US AT THE TIME OF CALL ON 18.03.20 19 IS GENUINE AND HENCE WE RECALL THE ORDER DATED 10.05.2021 PASSED BY THE CO-ORDINATE BE NCH. THE REGISTRY IS DIRECTED TO KEEP THE MATTER ON BOARD FOR HEARING ON 10.05.2021. SINCE BOTH THE PARTIES ARE PRESENT BEFORE US, ISSUING NOTICE INFORMING FIXING OF THE D ATE OF HEARING TO THE PARTIES IS HEREBY DISPENSED WITH. 4. IN THE RESULT, MISC. APPLICATION IS ALLOWED. THIS ORDER PRONOUNCED IN OPEN COURT ON 21/04/2021 SD/- SD/- (AMARJIT SINGH) (MS. MADHUMITA ROY) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD; DATED 21/04/2021 TANMAY, SR.PS - 3 - MA N O.322/AHD/2019(IN ITA NO.2557/A/17) SHIVAM WATER TREATERS PVT. LTD. VS. DCIT ASST.YEAR 2012-13 / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. / CONCERNED CIT 4. ( ) / THE CIT(A). 5. , ! ' , #$%% / DR, ITAT, AHMEDABAD 6. &' () / GUARD FILE. / BY ORDER, //TRUE COPY// / ( DY./ASSTT.REGISTRAR) !, #$ / ITAT, AHMEDABAD 1. DATE OF DICTATION 15/04/2021. 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 15/04/2021 3. OTHER MEMBER 4. DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR.P. S./P.S 16 /04/2021 5. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE D ICTATING MEMBER FOR PRONOUNCEMENT 6. DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR.P .S./P.S /04/2021 7. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 21 /04/2021 8. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK ... 9. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT RE GISTRAR FOR SIGNATURE ON THE ORDER.. 10. DATE OF DESPATCH OF THE ORDER