OFFICIAL LIQUIDATOR RGTL INDUSTRIES LTD. (COMPANY UNDER LIQUIDATION),NEW DELHI V. ACIT, CENTRAL CIRCLE- 16, DELHI

ITA 5884/DEL/2025

AI Insights

The case involves appeals by the Official Liquidator of RGTL Industries Limited against orders from the Commissioner of Income-tax (Appeals), which arose from assessment orders passed by the ACIT under sections 143(3) and 147 of the Income Tax Act, 1961 for the assessment years 2012-13 and 2017-18. The appeals were rendered infructuous due to the initiation of the liquidation process under the Insolvency and Bankruptcy Code, 2016, which included a clause preventing any legal proceedings against the corporate debtor. The Tribunal dismissed the appeals but allowed the possibility of filing new appeals if the NCLT modifies the liquidation order.

• Counselvise Citation: [2026] 140 COUNSELVISE.COM (IT) 840275 (ITAT-DELHI)
• Duration Of Justice: 5 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-02-2026
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: G
• Assessment Year: 2012-2013
• Appeal Filed On: 22-09-2025
• Laws Referred To: Income Tax Act, 1961, Insolvency and Bankruptcy Code, 2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: MAHESH KUMAR
• Assessee Lawyers: UMA UPADHYAY
• Keywords: Liquidation

Judgement Text

" IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : G : NEW DELHI BEFORE MS. MADHUMITA ROY, JUDICIAL MEMBER AND SHRI NAVEEN CHANDRA, ACCOUNTANT MEMBER ITAs No.5884 & 5885/Del/2025 Assessment Years : 2012-13 & 2017-18 Official Liquidator, RGTL Industries Limited (Company under Liquidation), 24/1A, Mohan Cooperative Industrial Estate), Mathura Road, New Delhi – 110 044. PAN: AACCR8792D Vs. ACIT, Central Circle-16, Delhi. (Appellant) (Respondent) Assessee by : Ms Uma Upadhyay, CA Revenue by : Shri Mahesh Kumar, CIT-DR Date of Hearing : 26.02.2026 Date of Pronouncement : 27.02.2026 ORDER PER MADHUMITA ROY: The instant appeals filed by the Assessee are directed against the orders dated 24.07.2025 of the Ld. Commissioner of Income-tax (Appeals), Delhi-26 [hereinafter referred to as the Ld. CIT(A)] u/s 250 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) arising out of the assessment orders dated 28.12.2019 and 30.12.2019 passed by the Printed from counselvise.com ITAs No.5884 & 5885/Del/2025 2 ACIT, Central Circle-16, New Delhi (hereinafter referred to as ‘the ld. AO’) under Section 143(3)/147 of the Act for Assessment Years 2012-13 and 2017-18, respectively. 2. Originally IB-431(ND)/2019 was fled under Section 9 of the Insolvency and Bankruptcy Code, 2016 r.w. Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 by the Operational Creditor which was admitted by the NCLT dated 10.04.2019. The CIR process was initiated against the corporate debtors and one Mr. Anshul Gupta was appointed as Interim Resolution Process of the Corporate Debtors and further confirmed as a Resolution Professional by the Committee of Creditors. Ultimately by and under an order dated 09.11.2020 such initiation of the liquidation process against the corporate debtor namely the appellant herein was allowed by the NCLT Delhi Benches. The authority proceeded to pass the liquidation order with certain terms and conditions one of which is subject to section 52 of the Insolvency and Bankruptcy Code, 2016 that no suit or other proceedings shall be instituted by or against the corporate debtor. Having regard to this particular aspect of this matter, we do not intend to keep these matters pending before us which have become infructuous. Both these appeals are hereby dismissed. However, liberty is granted to the appellant to file fresh Printed from counselvise.com ITAs No.5884 & 5885/Del/2025 3 appeals, if so advised, on the basis of the any order to be passed by the NCLT upon modification of the order of scheme having been partly allowed by the Hon’ble adjudicating authorities as prayed for by the official Liquidator as it is evident from the current status report filed by the Insolvency Professional Shri Anshul Gupta dated 25.02.2026 before us. 3. In the result, the appeals of the assessee are dismissed. Order pronounced in the open court on 27.02.2026. Sd/- Sd/- (NAVEEN CHANDRA) (MADHUMITA ROY) ACCOUNTANT MEMBER JUDICIAL MEMBER Dated: 27th February, 2026. dk Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(A) 5. DR Asstt. Registrar, ITAT, New Delhi Printed from counselvise.com "