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2024 (1) TMI 366 - HC - Income TaxValidity of order of ITAT dismissing the appeal of assessee and revenue on the ground of CIRP proceedings - Corporate Insolvency Resolution Process (CIRP) undergone by assessee - We have been informed several times by appellant/revenue that the respondents/companies, which are the part of the Amrapali Group, are undergoing insolvency proceedings - It was also conveyed to us that proceedings qua Amrapali Group are being looked at by the Supreme Court. HELD THAT - Since more than one year has passed without definite information, we are inclined to close the instant appeals, with liberty to the appellant/revenue to approach the court for revival, albeit as per law, as and when they obtain clarity in the above-captioned matters.
Issues involved: Assessment years 2010-2015, dismissal of appeals due to Corporate Insolvency Resolution Process (CIRP), lack of clarity on notice recipients, pending applications for condonation of delay.
Assessment Years 2011-12, 2014-15, 2012-13, 2010-11: The appeals were filed challenging the orders passed by the Income Tax Appellate Tribunal. The Tribunal relied on previous orders and dismissed the appeals due to the respondent undergoing Corporate Insolvency Resolution Process (CIRP). The appellant/revenue's counsels repeatedly informed the court about the ongoing insolvency proceedings involving companies from the Amrapali Group. Despite inquiries about the notice recipient, no clear information was provided. It was mentioned that the Supreme Court is overseeing the proceedings related to the Amrapali Group. After a year of uncertainty, the court decided to close the appeals, allowing the appellant/revenue to seek revival in the future when there is clarity on the matters. Assessment Year 2011-12: The Tribunal's reliance on previous orders and dismissal of appeals due to the respondent undergoing Corporate Insolvency Resolution Process (CIRP) led to the closure of the appeals. The court granted liberty to the appellant/revenue to approach the court for revival in accordance with the law once there is clarity on the ongoing matters. Any pending applications for condonation of delay in re-filing the appeal were also closed as a result of this decision.
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