TMI Blog2023 (2) TMI 704X X X X Extracts X X X X X X X X Extracts X X X X ..... Income Tax Act which has been specifically provided u/s 178(6) of the I.T. Act as amended w.e.f. 01.11.2016. Thus, in view of moratorium declared by NCLT, all the proceedings in the Court of Law, Tribunal etc. cannot continue in view of Amendment to Section 178(6) of the Act, therefore, no useful purpose is going to be served in continuing the present proceedings. We dismiss both the appeals filed by the assessee and the Revenue as not maintainable. However, liberty is granted to the assessee/Revenue to seek remedial measures in accordance with law as and when the moratorium period is over or order of the NCLT is modified revival of assessee company takes place or where it is necessary to do so in the interest of justice. - I.T.A. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lid. 5. The appellant craves leave to add, amend or alter any/all the grounds of appeal before or during the course of hearing of the appeal. The assessee has raised the following grounds of appeal :- I.T.A. No. 1063/DEL/2018 (A.Y 2013-14) 1. That the learned Commissioner of Income Tax (Appeals)-31, New Delhi has erred both in law and on facts in substantially confirming the order of assessment dated 31.3.2016 u/s 143(3) of the Act without appreciating that impugned order of assessment has been framed without valid opportunity and in disregard of the settled position of law and even the remand report as obtained in the appellate proceedings had been made in a cursory manner without due application of mind and hence ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oceeded to confirm the impugned addition without appreciating the settled position of law that, it is not for the appellant to explain the source of the creditor and therefore, any addition made on irrelevant and extraneous considerations is illegal, unjustified and hence untenable. 2.3 That the basis adopted by learned Commissioner of Income Tax (Appeals) in the impugned order to regard the sums received as unexplained credit u/s 68 of the Act is factually and legally misconceived. 2.4 That the learned officer has further erred in confirmation the addition on irrelevant and extraneous considerations by failing to appreciate the written submission and, evidence on record and therefore, addition confirmed is unjustified, invalid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y incorrect and contrary to record, legally misconceived and untenable. It is therefore, prayed that the additions made by the learned Assessing Officer and sustained by the learned Commissioner of Income Tax (Appeals) may kindly be deleted. Further the order of assessment of below authority be quashed and appeal of the appellant company be allowed. 3. The Revenue has filed ITA No. 2861/Del/2018 for the Assessment Year 2008-09 aggrieved by the order of the Ld. CIT(A) dated 23/02/2018 wherein the Ld. CIT(A) has deleted the addition made by the A.O. The assessee filed ITA No. 1063/Del/2018 for the Assessment Year 2013-14 aggrieved by the order dated 26/12/2017 passed by the Ld. CIT(A), wherein the Ld. CIT(A) upheld the certain addi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority; b) Transferring, encumbering, alienating or disposing of by the corporate debtor 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 corporate debtor in respect of its property including any action under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002; d) The recovery of any property by an owner or lessor, where such property is occupied by or in the possession of the corporate debtor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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