TaxTMI 
TaxTMI 
2025 (7) TMI 1241
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.... passed under Section 144 dated 28th March, 2024; and (iv) the impugned notice of demand dated 28th March 2024 issued under Section 156 of the IT Act. 2. The short point on which all these notices, as well as the impugned order, are challenged is that all these notices as well as the impugned order, have been passed when the assessee was undergoing a Corporate Insolvency Resolution Process ("CIRP") and there was a Moratorium in operation pursuant to the order dated 6th May, 2022 passed by the NCLT under Section 14 of the Insolvency and Bankruptcy Code, 2016 ("IBC, 2016"). In light of the order passed under Section 14, the assessment proceedings could not have proceeded, and which culminated in an order passed under Section 144 of the IT ....
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....arned Counsel appearing on behalf of the Revenue relied upon the decision of the Hon'ble Supreme Court in the case of Sundaresh Bhatt [Liquidator] of ABG Shipyard v/s. Central Board of Indirect Tax and Customs [(2023) 1 SCC 472]. 5. We have heard learned Counsel for the parties and perused the papers and proceedings in the present Writ Petition. The Hon'ble Delhi High Court in the case of Monnet Ispat and Energy Limited (supra) has clearly held that appeals filed by the Revenue before the High Court challenging the order passed by the ITAT could not proceed in light of the provisions of Section 14 of the IBC, 2016. Since this is a short order, the same is reproduced in its entirety. "1. The Court has heard the learned counsel fo....
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....der of the Income Tax Appellate Tribunal ('ITAT') in respect of the tax liability of the Respondent-Assessee. 4. Mr. Asheesh Jain, learned Senior Standing counsel for the Revenue, points out that unlike some of the earlier insolvency statutes the Code does not envisage permission being sought from the NCLT for continuation of the continuation of pending proceedings against the Respondent in other fora . In the order dated 18th July 2017 is clear that the moratorium continues "till the completion of the corporate insolvency resolution process or until this Bench approves the resolution plan under sub-Section (1) of Section 31 or passes an order for liquidation of corporate debtor under Section 33, as the case may be." 5. Co....
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....of the Revenue, relied upon the decision of the Hon'ble Supreme Court in ABG Shipyard (supra), we would have to deal with the aforesaid decision. Firstly, we find that this decision is clearly distinguishable on facts because it is not passed under the IT Act but under the Customs Act, 1962. Secondly, we find that another decision of the Hon'ble Supreme Court in the case of S V. Kandaskar v/s. V. N. Deshpande [(1972) 1 SCC 438] was relied upon to come to the conclusion that the Customs Department could initiate assessment or reassessment of duties and other levies but could not initiate recovery in violation of Section 14 or 33 (5) of the IBC, 2016. We find that the decision relied upon in the case of V. N. Deshpande (supra) was considered ....