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2023 (3) TMI 663 - ITAT KOLKATAParallel proceedings under Income-tax Act, 1961 and IBC, 2016 - liquidation proceeding has commenced - 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:- As per the stated order of NCLT, Kolkata in the case of the assessee by appointing the Official Liquidator. We are aware that from the time of appointment of Official Liquidator, the assessee company became defunct and the Official Liquidator stepped into the shoes of the assessee. In the present case, it is seen that the Official liquidator has not appeared before us so far to present the case of the assessee. Pertinently, it is to be observed that in case of parallel proceedings under Income-tax Act, 1961 and IBC, 2016, the IBC has an overriding effect over the provisions of the Income-tax Act which has been decided by Hon’ble Apex Court in Principal Commissioner of Income-tax Vs Monnet Ispat & Energy Ltd [2018 (8) TMI 1775 - SC ORDER] wherein had observed that as per section 238 of IBC, the IBC Code will override anything inconsistent contained in any other enactment, including the Income-tax Act. Similar issue was dealt by the Coordinate Bench of Mumbai ITAT in the case of Pratibha Industries Ltd. [2022 (6) TMI 1362 - ITAT MUMBAI] appeals filed by the Revenue and the assessee were dismissed with the liberty to recall the matter on application made for the same within the permissible limitation. We dismiss the appeal by the assessee with the liberty to the assessee/liquidator to file the application for recall this order as and when the occasion warrants. The issue of limitation in filing fresh appeal, if need be, will be governed by the decision of Hon’ble Supreme Court in the case of New Delhi Municipal Counsel [2022 (5) TMI 1123 - SUPREME COURT] Appeal of the assessee is dismissed.
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