TaxTMI 
TaxTMI 
2022 (6) TMI 1235
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....d on behalf of assessee nor was any application seeking adjournment filed in the present case. From the perusal of record, we noticed that the appeal has been listed on various occasions since February 2019 and the same has been adjourned mostly at the request of assessee. Thus, we are proceeding to hear this appeal ex parte qua the assessee after hearing the learned Departmental Representative ("learned DR") and perusal of material available on record. 3. In its appeal, the assessee has raised following grounds: "Being aggrieved by the Order dated 3rd December 2007 passed by the Commissioner of Income tax (Appeals) VII, Mumbai (hereinafter referred to as CIT(A)), under Section 250 of the Income-tax Act 1961, Rushabh Precision Bearings L....
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....owances made by A.O. and upheld by the CIT(A) are illegal, bad in law and without jurisdiction. 5. That the order passed by CIT (A) is without giving reasonable and proper opportunity of being heard to the Appellant. 6. In the view of the case and circumstances of the case this appeal was presented by the sufficient cause for not appearing and filling the submission of documents of appeal. 4. The present appeal is filed along with an application seeking condonation of delay in filing the present appeal. The condonation application is supported by an affidavit of Shri Rajesh Vora, Chairman and Managing Director of the assessee company. In the affidavit, it has been submitted that the impugned order passed by the learned CIT(A) was recei....
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....ssessee was under financial distress since 1998, which finally got over in 2018 and regular business of the company started from April 2018 onwards, assessee prayed that the delay of 10 years in filing the present appeal be condoned. In support of its submissions made in the affidavit, assessee has also submitted copies of minutes recorded at the time of handing over opposition of factory premises, copies of various orders passed by the Hon'ble High Court in respect of the winding up proceedings in the case of the assessee as well as orders passed by concerned authority in respect of the labour dispute. 5. The learned DR vehemently opposed the request for condonation of huge delay of 10 years in filing the present appeal. 6. We have consi....
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....or other legal proceeding, civil or criminal, in the name and on behalf of the company. Further, it is pertinent to note the provisions of section 446 of the Companies Act, 1956, which reads as under: "(1) When a winding up order has been made or the Official Liquidator has been appointed as provisional liquidator, no suit or other legal proceeding shall be commenced, or if pending at the date of the winding up order, shall be proceeded with, against the company, except by leave of the Court and subject to such terms as the Court may impose." Thus, as per section 446 of the Companies Act, 1956, when the winding up order is passed by the Court, no suit or other legal proceedings, inter-alia, shall be commenced against the company, except ....
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....ed for any suit or application in the name and on behalf of a company which is being wound up by the Court, the period from the date of commencement of the winding up of the company to the date on which the winding up order is made (both inclusive) and a period of one year immediately following the date of the winding up order shall be excluded." Thus, period from the date of commencement of the winding up of the company to the date on which winding up order is passed by the Court and a further period of one year from the date of winding up order, is excluded for the purpose of computation of limitation period for any suit or application in the name and on behalf of the company. While interpreting section 458A of the Companies Act, 1956, H....
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.... present appeal. In the present case, the impugned order by learned CIT(A) was passed on 03/12/2007. As the due date for filing the appeal against the aforesaid impugned order before the Tribunal was falling during the exclusion period, as stated in section 458A of the Companies Act, 1956, in our considered view, the limitation period in the present case started from 31/03/2011. However, the present appeal was filed by the assessee on 16/05/2018, i.e. after a more than 7 years from 31/03/2011. Further, in the present case, despite the cause of action having arisen after passing of the impugned order by learned CIT(A) and Official Liquidator also having power to initiate proceedings in the name of and on the behalf of the assessee, with the ....