Commissioner Of Income Tax,Central-I v. M/S. Binani Cement Ltd

ITA/98/2012 IN THE HIGH COURT AT CALCUTTASPECIAL JURISDICTION (Income Tax)ORIGINAL SIDE COMMISSIONER OF INCOME TAX,CENTRAL-I, -Versus- M/S. BINANI CEMENT LTD. BEFORE :THE HON’BLE JUSTICE SURYA PRAKASH KESARWANIAndTHE HON’BLE JUSTICE RAI CHATTOPADHYAYDate : 22[nd] January, 2024 Appearance:Mr. Prithu Dudheria, Adv....for the appellant.Mr. D. N. Sharma, Adv.Mr. A. K. Dey, Adv....for the respondent. The Court : Heard learned standing counsel for theappellant and the learned counsel appearing for the respondent.learned counsel for the respondent states that theassessment order involved in the present appeal are theassessment years 2005-06 and 2007-08. In respect of therespondent/assessee, a resolution plan was approved under theprovisions of the Insolvency and Bankruptcy Code, 2016 and ithas been implemented. Therefore, all liabilities stood extinguished in view of the plan and law laid down by theHon’ble Supreme Court in the case of Ghanashyam Mishra & SonsPvt. Ltd. Vs. Edelweiss Assets Reconstruction Co. Ltd. reportedin (2021) 9 SCC 657 and subsequent decision in the case ofRuchi Soya Industries Ltd. Vs. Union of Indiareported in(2022) 6 SCC 343.In view of the statement made by learned Counsel forthe respondent/assessee, this appeal (ITA 98/2012) is dismissedwith liberty to the appellant to move a recall applicationwithin two months in the event the statements made by learnedCounsel for the respondent/assessee is found to be incorrect. (SURYA PRAKASH KESARWANI, J.) (RAI CHATTOPADHYAY, J.) As.