TaxTMI 
TaxTMI 
2022 (3) TMI 1287
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.... Tax Appellate Tribunal, Bench "1-1" New Delhi passed in I.T.A. No.883/Del/2008&894/Del/2008 pertaining to Assessment Year 20032004. 2. Briefly stated the facts are that the Assessee had filed its return of income on 02.12.2003 declaring a loss of Rs. 86,15,30,820/-. The case was selected for scrutiny assessment and notice under Section143 (2) of the Income Tax Act, 1961 was issued. A reference was made to the Transfer Pricing Officer (TPO), as the Assessee had undertaken international transactions with its Associated Enterprises (AEs). A final Assessment Order under Section 143(3) of the Income Tax Act, 1961 was passed by the Assessing Officer. Assessing Officer enhanced book profit by Rs. 4,66,60,747/- towards profit under Section 10A of....
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.... hereinbelow: ''The Official Liquidator has filed a report that the Respondent-Company (Moser Bear India Ltd.) is not financially viable and is under liquidation in proceedings pending before the National Company Law Tribunal. Even if the Appellant-Revenue were to succeed, the Official Liquidator is not in a position to pay the tax amount involved in these appeals. Indisputedly, the respondent-Company has gone in liquidation. The company in liquidation is not in a position to pay its outstanding dues including taxes. Moreover, the tax effect in the concerned appeals is just over Rs. 2,00,00,000/- (Rupees Two Crore Only). Taking overall view of the matter, we deem it appropriate to dispose of these appeals, leaving the question....
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....er, you have also intimated that, the Hon'ble High Court, Delhi has directed your goodself to seek instructions as to whether the Revenue would like to pursue the appeals (ITA No.1204/2018 and ITA 793/2019 filed by the department. 4.1 As pointed out by you, the assessee is desirous of pursuing its appeals. As such there may be situation, that , in case the assessee gets a favourable order, he may be entitled for a refund. 4.2 While the department would like to pursue the appeals, however in case the Court is inclined to dispose off the appeals in the spirit of decision of Hon'ble SC wherein the matter was not considered on merits but on ground of assessment being before NCLT, it would be equitable that the Hon'ble Court also gives direc....