SHARDA MA ENTERPRISES PRIVATE LIMITED,NEW DELHI V. ACIT CENTRAL CIRCLE-7, NEW DELHI

ITA 1010/DEL/2024

AI Insights

The case involves appeals by Sharda MA Enterprises Private Ltd. against the assessment orders for the years 2017-18 and 2018-19 issued by the DCIT, Circle-23(1), Delhi. The appeals were filed in the context of a moratorium declared by the National Company Law Tribunal, New Delhi, which prohibited any legal proceedings against the respondent during the CIRP. Both the appellant and the Department of Revenue agreed to dismiss the appeals with the provision to refile post-CIRP.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 126219 (ITAT-DELHI)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-04-2025
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: G
• Assessment Year: 2018-2019
• Laws Referred To: Income-Tax Act, 1961, Insolvency and Bankruptcy Code, 2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: APPELLANT ASSESSEE; JAYA CHAUDHARY
• Assessee Lawyers: ABHISHEK JAIN
• Keywords: Dismissed; Judgment; HRA; Commissioner; Transfer; Directions; Department
• Section: 250

Judgement Text

" INCOME TAX APPELLATE TRIBUNAL DEHRADUN BENCH “G”: NEW DELHI BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER AND SHRI VIMAL KUMAR, JUDICIAL MEMBER ITA No.1009/DEL/2024 Assessment Year: 2017-18 ITA No.1010/DEL/2024 Assessment Year: 2018-19 Sharda MA Enterprises Private Ltd., 353 Aggarwal Chamber 3rd, 26, Veer Savarkar Bhawan Block Shakarpur, New Delhi East Delhi. PAN No. AABCS2792K Vs . DCIT, Circle 23(1), Delhi (Appellant) (Respondent) O R D E R PER VIMAL KUMAR, JUDICIAL MEMBER: The appeals filed by the Appellant/assessee are against separate `orders dated 12.01.2024 of Learned Commissioner of Income-Tax(Appeals)-24, New Delhi (hereinafter referred as ‘Ld. CIT(A)’) under Sections 250 of the Income-Tax Act, 1961 (hereinafter referred as “the Act”) arising out of separate Assessee by: Abhishek Jain, CA Department by: Ms. Jaya Chaudhary, CIT (DR) Date of Hearing: 23.04.2025 Date of Pronouncement: 23.04.2025 ITA Nos.1009 & 1010/Del/2024 2 assessment orders dated 29.12.2019 and 16.02.2021 of the DCIT, Circle-23(1), Delhi (hereinafter referred as “Ld. AO”) for assessment years 2017-18 and 2018-19 respectively. 2. Learned Authorised Representative for appellant/assessee submitted that the National Law Tribunal, New Delhi vide order dated 08.04.2022 has declared moratorium. So, the appeals may be dismissed with the liberty to approach the Tribunal after completion of CIRP proceedings as per the relevant provisions of the Act. 3. Learned Authorised Representative for the Department of Revenue had no objection. 4. From examination of record in the light of aforesaid rival submissions, it is crystal clear that vide order dated 08.04.2022 the National Company Law Tribunal, New Delhi Bench has appointed insolvency Professional Mr. Vaneet Bhatia and at para- 8 of its order the Learned Tribunal directed as under:- \"8. The moratorium is declared which shall have effect from this Order till the completion of CIRP, for the purposes referred to in section 14 of the IBC, 2016. It is ordered to prohibit all of the following, namely:- a. The institution of suits or continuation of pending suits or proceedings against the respondent including execution of any judgment, decree or order in any ITA Nos.1009 & 1010/Del/2024 3 court of law, tribunal, arbitration panel or other authority; b. Transferring, encumbering, alienating or disposing of by the respondent any of its assets or any legal right or beneficial interest therein; c. Any action to foreclose, recover or enforce any security interest created by the respondent in respect of its property including any action under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002); d. The recovery of any property by an power or lessor where such property is occupied by or in the possession of the respondent.\" 5. In pursuant to the aforementioned directions, both the appeals are dismissed. However, a liberty is given to the assessee to approach the Tribunal after the completion of CIRP proceedings as per the relevant provisions of the Act. 6. In the result, both the appeals are dismissed. Order pronounced in the open court on 23/04/2025. Sd/- Sd/- (PRADIP KUMAR KEDIA) (VIMAL KUMAR) ACCOUNTANT MEMBER JUDICIAL MEMBER Dated: 25/04/2025 Mohan Lal ITA Nos.1009 & 1010/Del/2024 4 Copy forwarded to - 1. Applicant 2. Respondent 3. CIT 4. CIT (A) 5. DR:ITAT ASSISTANT REGISTRAR ITAT, New Delhi "