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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 ..... king 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 liquidator / revenue to seek recall of the order when the occasions warrants. All the appeals stand dismissed. - HON BLE SHRI V. DURGA RAO, JUDICIAL MEMBER AND HON BLE SHRI MANOJ KUMAR AGGARWAL, AM For the Appellant : Shri Vijay J. Reddy (CA)-Ld. AR For the Respondent : Shri R. Mohan Reddy (CIT)- Ld. DR ORDER Per Bench 1. The Ld. AR, at the outset, submitted that the assessee is subjected to proceedings under Insolvency and Bankruptcy Code, 2016 and Interim Resolution Professional (IRP) has been appointed in assessee s case. The copies of orders passed by Hon ble NCLT have been place ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y 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. 1-11-2016, the Code shall have overriding effect. 7. Further, as per section 31 of the Code, resolution plan as approved by the Adjudicating Authority shall be binding on the corporate debtor and its employees, members, creditors, guarantors and other stakeholders involved in the resolution plan. Thus, this will prevent State authorities, Regulatory bodies 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . representatives and perused the materials placed on record, we observe that the liquidation proceedings has commenced as per the order of the Hon'ble NCLT, Mumbai, in assessee's case thereby appointing Official Liquidator. We are aware that from the time of appointment of Official Liquidator, the assessee company became defunct and the Official Liquidator steps into the shoes of the assessee. In the present case, it is seen that the Official Liquidator has not appeared before us so far to present the case of the assessee. Even during the moratorium period specified under section 14(1)(a) of the IBC Code, the Ld. representative for the AR made no representation on several hearings and the case was adjourned on various hearings. Thi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ourt or otherwise ; or (b) who has been appointed the receiver of any assets of a company; (hereinafter referred to as the liquidator) shall, within thirty days after he has become such liquidator, give notice of his appointment as such to the Income-tax Officer who is entitled to assess the income of the company. (2) The Income-tax Officer shall, after making such enquiries of calling for such information as he may deem fit, notify to the liquidator within three months from the date on which he receives notice of the appointment of the liquidator the amount which, in the opinion of the Income-tax Officer, would be sufficient to provide for any tax which is then, or is likely thereafter to become, payable by the company. (3) The liquidator- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quidators than one, the obligations and liabilities attached to the liquidator under this section shall attach to all the liquidators jointly and severally. (6) The provisions of this section shall have effect notwithstanding anything to the contrary contained in any other law for the time being in force (except the provisions of the Insolvency Bankruptcy Code, 2016). 7. From the above observation and also by the decisions of co-ordinate bench of this Tribunal, we hereby dismiss the cross appeals filed by the Revenue and the Assessee with the liberty to the appellants/Official Liquidator to recall the present order when the occasion warrants. The issue of limitation in filing fresh appeal, if need be, has already been dealt with in the judg ..... X X X X Extracts X X X X X X X X Extracts X X X X
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