Itat/115/2018 Principal Commissioner Of Income Tax -4, Kolkata v. M/S. Tantia Construction Limited

OD–1 IN THE HIGH COURT AT CALCUTTASPECIAL JURISDICTION (INCOME TAX)ORIGINAL SIDE ITAT/115/2018PRINCIPAL COMMISSIONER OF INCOME TAX -4, KOLKATAVS.M/s. TANTIA CONSTRUCTION LIMITED BEFORE :THE HON’BLE JUSTICE T.S. SIVAGNANAMAndTHE HON’BLE JUSTICE SUPRATIM BHATTACHARYADate : SEPTEMBER 9, 2022. Appearance:Mr. Aryak Dutta, Adv..… for appellantMr. Avra Mazumder, Adv.Mr. Binayak Gupta, Adv.…for respondent The Court:- This appeal by the revenue filed under Section 260A of the IncomeTax Act, 1961 (the Act) is directed against the order dated 23[rd] September, 2016 passedby the Income Tax Appellate Tribunal, “C” Bench, Kolkata (Tribunal) in I T (SS) A NO. 58and 60/Kol/2012 for the assessment years 2004-05. The appeal was admitted on 11[th] November, 2019 to decide the followingsubstantial questions of law : i)Whether on the facts and in the circumstances of the case, the tribunal inthe impugned order correctly appreciated and applied Section 80-IA andparticularly, the explanation under sub-section 13 thereof withretrospective effect from 1[st] April, 2000?the impugned order correctly appreciated and applied Section 80-IA andparticularly, the explanation under sub-section 13 thereof withretrospective effect from 1[st] April, 2000? We have heard Mr. Aryak Dutta, learned standing Counsel for the appellant andMr. Avra Mazumder, learned Advocate duly assisted by Mr. Binayak Gupta, learnedAdvocate for the respondent. The learned Advocate appearing for the respondent/assessee submitted that theapplication filed by the financial creditor under Section 7 of the Insolvency &Bankruptcy Code 2016 (IBC) before NCLT, Kolkata was admitted for initiating thecorporate resolution process in respect of assessee company and the NCLT by orderdated March 13, 2019 declared moratorium for the purposes of referring to in section 14of the IBC. Further the NCLT has approved the resolution plan submitted by thecompany on 24[th] February, 2020. Since the resolution plan has already been approved,the instant appeal has become infructuous and accordingly stands dismissed withoutany order as to costs. Further in the assessee’s own case appeal filed by the revenue in ITA No. 20 of2021 and I.T.A. No. 21 of 2021 for the other assessment years were also dismissed onsimilar grounds. Consequently, the substantial questions of law raised in the instant appeal areleft open. (T.S. SIVAGNANAM, J.) (SUPRATIM BHATTACHARYA, J.)