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2023 (3) TMI 401 - AT - Income TaxParallel proceedings under the Income tax Act and IBC - IBC Code overriding anything inconsistent contained in any other enactment, including the Act - liquidation proceedings had commenced as per the order of NCLT - HELD THAT:- Similar issue was dealt by the coordinate bench of ITAT, Mumbai in the case of Pratibha Industries Ltd. [2022 (6) TMI 1362 - ITAT MUMBAI] which has held that where insolvency petition was filed against the assessee company and liquidation proceedings were in progress, as in case of parallel proceedings under the Act and IBC, the IBC had overriding effect over the provisions of the Act, thus, cross appeals filed by the revenue and assessee against the order of Ld. CIT(A) deserve to be dismissed. Considering the facts and circumstances of the present case and the observations noted above and also by following the decision of the coordinate bench of ITAT, Mumbai referred above, we hereby dismiss the appeals filed by the revenue and the assessee so also the cross objection filed by the assessee, with a liberty to both the assessee and the Official liquidator to recall the present order by filing appropriate application within the permissible limitation, as and when the occasion so warrants. In the present case also, as held by the coordinate bench of ITAT, Mumbai referred above, the issue of limitation in filing fresh appeal, if need be, is to be dealt in accordance with the decision of Hon’ble Supreme Court in the case of New Delhi Municipal Council Vs. Minosha India Ltd. (supra) [2022 (5) TMI 1123 - SUPREME COURT]
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