KREUZ SUBSEA PTE LTD., MUMBAI V. THE DEPUTY COMMISSIONER OF INCOME TAX (INTERNATIONAL TAX CIRCLE)-3(1)(2), MUMBAI

MA 608/MUM/2023

• Counselvise Citation: [2024] 100 COUNSELVISE.COM (IT) 3943 (ITAT-MUMBAI)
• Duration Of Justice: 3 month(s) 13 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 07-02-2024
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: I
• Next Hearing Date: 11-01-2024
• Assessment Year: 2015-2016
• Appeal Filed On: 25-10-2023
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: D I L I P K A H
• Section: 22; 20

Judgement Text

I N T H E I N C O M E T A X A P P E L L A T E T R I B U N A L “ I ” B E N C H , M U MB A I BEFORE SHRI PRASHANT MAHARISHI, AM AND SHRI RAHUL CHAUDHARY, JM M A N o. 6 08 & 60 9 / M u m/ 2 0 2 3 A r i s i ng o u t o f I T A N o . 11 8 2/ M U M / 2 0 2 1 & 1 2 46 / M u m / 20 22 (A s s e s s m e n t Y e a r 2 0 15 - 16 & 20 1 8 - 19 ) K r e u z S ub s e a p t e Li m it e d [ I n c r e di t o rs V o l u nt a r y W i n d in g U p] SR B C & A s s oc i a t e s L L P 16 t h F l oo r , R u b y , 29 , Se n a pa t i b a pa t m a r g D a d a r ( W ) M um b a i 4 00 02 8 V s . T he D e p u t y C om m i s s io n e r o f i nc o m e t a x, I nt e r na t i o na l t a x C i r c le , 3 ( 1 ) ( 2) , A i r I nd i a , N a r i ma n p oi n t , M u m ba i – 2 1 (Applicant) (Respondent) PAN No. AIDCK6822G Assessee by : S h r i M i l a n k a p a d i a , A R Revenue by : S h r i D i l i p K S h a h S r A R D a t e o f h e a r i n g : 12/01/2024 Date of pronouncement : 8 / 0 2 / 2 0 2 4 O R D E R PER PRASHANT MAHARISHI, AM: 1) These are, two miscellaneous applications filed by the assessee through liquidator to recall the order passed by the coordinate bench on 28 April 2023. 2) By the above order of the coordinate bench the appeals filed by the assessee for assessment year 2015 – 16 and 2018 – 19 were dismissed as the assessee company was referred to voluntary Winding up by the creditors pursuant to section 180 of the insolvency, restructuring and resolution act, 2018 of Singapore, holding that these appeals are required to be reinstated now by the liquidator. Page | 2 MA No. 608 & 609 /Mum/2023 Kreuz Subsea Pte Limited ; A.Y. 2015-16 & 2018-19 3) The assessee has filed miscellaneous applications stating that the liquidator wishes to reinstate the appeal and filed revised form number 36 along with the grounds of appeal duly signed by the liquidator. It is further stated that on 26/4/2023 Mr. Farooq Ahmad Mann [Mann & Associates PAC] has been appointed the liquidator. 4) The learned authorized representative and the learned departmental representative were heard. As in terms of paragraph number eight of the order of the coordinate bench, the assessee has furnished form number 36 signed by the liquidator who wishes to reinstate the above two appeals, we recall the order passed by the coordinate bench dated 28/4/2023. 5) Registry is directed to fix these appeals for hearing, as and when found appropriate, by issuing notice to the liquidator in Singapore by email address provided in form number 36 [ [e-mail]] and also by registered AD at the address in India provided in form number 36. Registry is also directed to forward revised form number 36 to the concerned assessing officer. 6) Accordingly, both the above appeals are recalled and applications of the assessee for both the assessment years are allowed. Order pronounced in the open court on 8-02-2024. S d/- Sd /- ( R A H U L , C H A U D H A R Y ) ( P R A S H A N T M A H A R I SH I) ( J U D IC I A L M E M B E R ) ( A CCO U N T A N T M E M BE R) Mumbai, Dated: 08-02-2024 Sudip Sarkar, Sr.PS/Dragon Copy of the Order forwarded to : 1. The Appellant 2. The Respondent. 3. CIT Page | 3 MA No. 608 & 609 /Mum/2023 Kreuz Subsea Pte Limited ; A.Y. 2015-16 & 2018-19 4. DR, ITAT, Mumbai 5. Guard file. BY ORDER, True Copy// Sr. Private Secretary/ Asst. Registrar Income Tax Appellate Tribunal, Mumbai