TMI Blog2022 (3) TMI 1520X X X X Extracts X X X X X X X X Extracts X X X X ..... through the liquidator. The courts are already overburdened. . There is no purpose of flogging a dead horse. Thus, we are of the view that there is no purpose in keeping this matter alive. Hence, in view of peculiar facts and circumstances, report filed by the department and the order passed by the Apex Court in [ 2020 (7) TMI 760 - SC ORDER ], we dispose of the present appeal - ITA 1204/2018 - - - Dated:- 16-3-2022 - HON'BLE MR. JUSTICE MANMOHAN AND HON'BLE MR. JUSTICE DINESH KUMAR SHARMA For the Appellant : Mr.Sunil Agarwal, Sr.Standing counsel with Mr.Tushar Gupta, Jr. Standing Counsel and Mr.Samarth Chaudhari, Advocate for ITO(TDS)-1 For the Respondent : Mr.Upvan Gupta, Advocate JUDGMENT DINESH K ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tions in respect of the miscellaneous income, disallowance of royalty/technical know-how. However, CIT(A) upheld additions in respect of transfer pricing adjustment and addition on account of sale of a forward exchange contract constituted profit and gains derived from the business of the undertaking eligible for deduction under Section 10B of the Act. 3. The Assessee as well as the department filed crossed appeal before the Income Tax Appellate Tribunal (ITAT). The ITAT dismissed the appeal of the Revenue and allowed the appeal of the Assessee. 4. Aggrieved by this, the Principal Commissioner invoked the jurisdiction of this Court and assailed the order passed by the ITAT. 5. On 07.12.2021, learned counsel for the parties had draw ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Revenue has filed a letter received by him which is reproduced hereinbelow: Office of the Deputy Commissioner of Income Tax, Central Circle-20, New Delhi Room No.269A, ARA Centre, 2nd Floor, Jhandewalan Extn., New Delhi 110055 Email Id: delhi.dcit.cen20@incometax. gov.in Phone No.011-23593448 F. No.DCIT/CC-20/Moser/2021-22/660 Date: 15.03.2022 To, The Sr.Standing Counsel High Court of Delhi. Sir, Subject: Request for Instructions regarding pursuing of pending appeals filed in Delhi High Court in the case of M/s. Moser Baer India Ltd. (PAN:AAACM03221) Regarding. Kindly refer to the above subject. 2. Reference is hereby drawn to your email dated 31.01.2022 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rned counsel for the parties. A perusal of the aforesaid order of the Apex Court in Civil Appeal No.4705/2014 makes it clear that the respondent company Moser Baer India Ltd. is not financially viable and is in liquidation before NCLT. The order also makes it clear that even if the Revenue were to succeed, the Official Liquidator would not be in a position to pay the tax amount involved in these appeals. Thus, even if the appellant-department succeeds in the present appeal, there would be no fructifying effect as the respondent company, which is under liquidation, would not be able to discharge its debts and tax liability through the liquidator. The courts are already overburdened. Thus, while dealing with such matters, it has to be seen wh ..... X X X X Extracts X X X X X X X X Extracts X X X X
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