Commissioner Of Income Tax,Kolkata-Iv v. M/S. Simplex Projuects Ltd

ITAT/87/2014 IA No.GA/2/2014 (Old No.GA/1939/2014) IN THE HIGH COURT AT CALCUTTASpecial Jurisdiction (Income Tax)ORIGINAL SIDE COMMISSIONER OF INCOME TAX,KOLKATA-IV, -Versus- M/S. SIMPLEX PROJUECTS LTD. Appearance:Mr. Soumen Bhattacharyya, Adv....for the appellant. Ms. Nilanjana Banerjee Pal, Adv....for the respondent. BEFORE: The Hon’ble JUSTICE T.S. SIVAGNANAM -And- The Hon’ble JUSTICE HIRANMAY BHATTACHARYYA Date : 13[th] June, 2022. The Court : We have heard Mr. Soumen Bhattacharyya,learned standing counsel for the appellant and Ms. NilanjanaBanerjee Pal, learned Advocate for the respondent/assessee.The learned Advocate appearing for the respondentsubmitted that a petition under Section 7 of the Insolvency andBankruptcy Code, 2016 has been filed by the State Bank of India,the financial creditor against the respondent/assessee inIVN.P/2(KB)2022 and order has been passed on 27[th] April, 2022 bythe National Company Law Tribunal, Kolkata Bench admitting theapplication and ordering that there shall be a moratorium under Section 14 of the Code. Further, in terms of Section 238 of theCode, the provisions of this Code will have an overriding effectover the orders passed by the tribunal. In such circumstances, the revenue cannot pursue thisappeal. For such reasons, the appeal stands dismissed.Consequently, the question of law suggested, is left open.With the dismissal of the appeal, the connectedapplication for stay (IA No.GA/2/2014) also stands closed. (T.S. SIVAGNANAM, J.) (HIRANMAY BHATTACHARYYA, J.) S.Das/As.