TaxTMI 
TaxTMI 
2026 (7) TMI 1160
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.... are extracted as under: - "1. The Appellant, Vikas WSP Ltd., is undergoing the Corporate Insolvency Resolution Process (CIRP) as per provisions of insolvency & Bankruptcy Code, 2016 since 02.02.2022. In the matter of Bank of India Vs. Vikas WSP Ltd., Hon'ble NCLT Chandigarh Bench has passed an order for initiation of Corporate Insolvency Resolution Process (CIRP) vide Ref. No. CP(IB)-315/2019 dated 02.02.2022 under provisions of insolvency and Bankruptcy Code (IBC), 2016 and appointed Mr. Darshan Singh Anand as Interim. Resolution Professional (IRP) of Vikas WSP Ltd. Copy of Order of Hon'ble National Company Law Tribunal (NCLT) for initiation of Corporate Insolvency Resolution Process (CIRP) against the Appellant is enclos....
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....ary and secondary email ids on income tax e filing portal has been registered as [email protected] and [email protected] respectively. Copy of Screenshot of Income Tax e filling portal is enclosed herewith. 7. The appellant has not been serviced /served the copy of order under section 250 of the Income Tax Act 1961 passed by National Faceless Appeal Centre (NFAC) vide DIN & Order No. ITBA/NFAC/S/250/2024-25/1066717837(1), Dated 15.07.2024 on the address and correspondence address of the Appellant. Further the copy of the order is neither served on email address mentioned in Appeal Form 35 nor as registered on the income tax portal i.e. [email protected] and [email protected]." 1.1 Consider....
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....onal (hereafter as 'IRP'). It is seen from the impugned order that the Ld. CIT(A) has confirmed the action of Ld. AO mainly on the ground that the IRP could not file the requisite details and hence, the action of Ld. AO has been confirmed in more or less an ex parte manner. 2.2 Further aggrieved, the assessee, through the IRP, has filed the present appeal with the following grounds: - 1. "The L4. CIT(A) has ignored the fact that the appellant company is under Corporate Insolvency Resolution Process as per t provisions of Insolvency & Bankruptcy Code (IBC), 2016 and moratorium is declared under section 14 of IBC. As per section imposed on the 14(1)(A) during the moratorium, prohibition is impose institution of suits OR continuati....
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.... 4. We have carefully considered the rival submissions and have gone through the records before us. It is clear that once the moratorium has been declared u/s 14 of the IBC there cannot be proceedings like the impugned. It would be further apt to consider that the period of moratorium shall have the effect from the date of such order till the completion of the corporate insolvency resolution process. In the present case, the appeal filed by the assessee as well as by the Revenue is an institution of suit against the corporate debtor (i.e. the assessee herein), which is prohibited under section 14 of the IBC 2016. The Hon'ble Supreme Court in the case of Alchemist Asset Reconstruction Company Limited vs. Hotel Gaudavan Private Limited repor....
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....ent facts of the case of assessee before us) including the execution of any judgment, decree, or order in any Court of law, Tribunal, Arbitration Panel or other authority is to be prohibited. Admittedly, a registered Insolvency Professional is appointed by NCLT and the assessee no longer could be represented by the representative to whom the authority was provided. Even otherwise, none appeared on behalf of the assessee today. At this juncture, the decision of Supreme Court in the case of Ghanashyam Mishra & Sons (P) Ltd. v. Edelweiss Asset Reconstruction Co. Ltd. [2021] 126 taxmann.com 132/166 SCL. 237 (SC) is referred to wherein the Supreme Court has considered a situation wherein, the resolution plan was approved by the adjudicating auth....