9911796707
TMI Blog2023 (3) TMI 970X X X X Extracts X X X X X X X X Extracts X X X X ..... ate of such order till the completion of the corporate insolvency resolution process. In the present case, the appeal filed by the Revenue is an institution of suit against the corporate debtor, which is prohibited under section 14 of the Code. Hon ble Supreme Court in the case of Pr. CIT v. Monnet Ispat Energy Ltd [ 2018 (8) TMI 1775 - SC ORDER] has upheld overriding nature and supremacy of the provisions of the Code over any other enactment in case of conflicting provisions, by virtue of a non obstante clause contained in section 238 of the Code. It is further pertinent to note that under section 178(6) of the Act, as amended w.e.f. 01.11.2016, the Code shall have overriding effect. As per section 31 of the Code, resolution plan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion Plan as approved by the Adjudicating Authority or upon appointment of the Liquidator. - ITA No.230/Kol/2020 - - - Dated:- 28-2-2023 - Shri Rajpal Yadav, Vice President And Shri Girish Agrawal, Accountant Member For the Appellant : Shri Vijay Kumar, Addl. CIT For the Respondent : None ORDER PER GIRISH AGRAWAL, ACCOUNTANT MEMBER: This appeal filed by the revenue is against the order of Ld. CIT(A)-4, Kolkata vide Appeal No. 23/CIT(A)-4/08-09 dated 26.11.2019 passed against the assessment order by CIT(A)-4, Kolkata u/s. 143(3) of the Income-tax Act, 1961 (hereinafter referred to as the Act ), dated 31.12.2008. 2. When the appeal was called for hearing, no one was present on behalf of the assessee to repres ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ect are placed on record for which an order sheet entry dated 19.09.2022 was also recorded. The said order sheet entry noted that A letter of Shri Sanjai Kumar Gupta has been placed on file, as per which Shri Gupta has been appointed as Interim/Resolution Professional u/s. 16 of the Insolvency and Bankruptcy Code 2016 by the NCLT Kolkata vide their order dated 10.08.2020 in the petition relating to corporate Insolvency Resolution process in the case of the assessee. A moratorium has also been declared u/s. 14 of the Code 2016 .. 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 judg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is will prevent State authorities, Regulatory bodies including Direct Indirect Tax Departments from questioning the resolution plan. Therefore, there is no reason to keep this appeal pending. 8. In view of the above, we dismiss the appeal filed by the Revenue with the liberty to the Assessing 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. St ..... X X X X Extracts X X X X X X X X Extracts X X X X
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