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TMI Blog2022 (11) TMI 1531X X X X Extracts X X X X X X X X Extracts X X X X ..... d by Hon'ble NCLT have been placed on record. It has been submitted that the present proceedings may be kept in abeyance. The Ld. CIT-DR could not controvert this position. 2. We find that Mumbai Tribunal, on identical facts, in the case of DCIT vs. Global Softech Ltd. (140 Taxmann.com 103) gave following directions: - 6. It is pertinent to note that as per the provisions of section 14 of the Code institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgement, decree or order in any court of law, tribunal, arbitration panel or other authority shall be prohibited during the moratorium period. The period of moratorium shall have the effect from the date of such order t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sing Officer to file the appeal afresh after completion of moratorium period upon the revival of the Corporate Debtor as per Resolution Plan as approved by the Adjudicating Authority or upon appointment of the Liquidator, as the case may be. 9. Further, the appeal filed by the assessee also cannot be sustained as the assessee did not furnish any permission obtained from Hon'ble NCLT as held by the Hon'ble Madras High Court in Mrs. Jai Rajkumar v. Stanbic Bank Ghana Ltd. [2019] 101 taxmann.com 329. Further, no letter of authority issued by the Interim Resolution Professional in favour of the Authorised Signatory of the assessee, in respect of present cross-appeals before us, has been filed. Nor it has been brought on record whethe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rings and the case was adjourned on various hearings. This being so, upon considering the provisions of section 33(5) of the IBC Code, which is reproduced herein below:- - 33. (1) Where the Adjudicating Authority, (a) (b)(i) to (ii) ** ** (2) to (4) ** ** ** (5) Subject to section 52, when a liquidation order has been passed, no suit or other legal proceeding shall be instituted by or against the corporate debtor: 5. Therefore, we are of the considered opinion that no suit or other legal proceedings shall be initiated by or against the corporate debtor which is also applicable for pending proceedings and the Proviso to section 33(5) also provides prior approval of the Adjudicating Authority to be obtained by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de for any tax which is then, or is likely thereafter to become, payable by the company. (3) The liquidator- (a) shall not, without the leave of the Commissioner, part with any of the assets of the company or the properties in his hands until he has been notified by the Income-tax Officer under sub-section (2) ; and (b) on being so notified, shall set aside an amount, equal to the amount notified and, until he so sets aside such amount, shall not part with any of the assets of the company or the properties in his hands : Provided that nothing contained in this sub-section shall debar the liquidator from parting with such assets or properties for the purpose of the payment of the tax payable by the company or for making any payme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sent order when the occasion warrants. The issue of limitation in filing fresh appeal, if need be, has already been dealt with in the judgment of Hon'ble Supreme Court in New Delhi Municipal Council v. Minosha India Ltd. [2022] 138 taxmann.com 73. 8. In the result, appeals filed by the Revenue and Assessee are dismissed. 4. Under the given factual matrix, we see no reason to keep the appeals pending. Both sides concurred that the appeals may be dismissed with a liberty to seek revival of the same at appropriate stage considering the outcome of IBC proceedings. Accordingly, taking the same view as taken by Tribunal in aforesaid appeals, all the appeals filed by the assessee stand dismissed with a liberty to the assessee / official l ..... X X X X Extracts X X X X X X X X Extracts X X X X
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