Itta/261/2007 Of M/S. Sathavahana Ispat Limited v. Deputy Commissioner Of Income Tax

IN THE HIGH COURT FORo. r"brJ*lBlf;E [oF ] ru u n ffi #5,[^r^ilii,Brf;rK".o F s E prE M B E R PRESENT THE HON,BLE SRI JUSTICE P.SAM KOSHY AND THE HON,BLE SRI JUSTICE LAXM, NARAYANA ALISHETTYlNcOME TAXTRIBUNALAPPELAPPEPEAL No: 261 of 2007 NALAPPELAPPEPEAL No: 261 of 2007 lncome Tax Tribunal 20077Hyderabadpreferred Hvdaflsrng erabad, out against of in ITA the ITA order the No.022No.631/HOrdeof Appeal slDC3( the r yd12004, of the lncome{aUnder for Commissioner Sex assessment Appellate Tribunalction 260-4 year of of Inthe 2come Tax 001-02 Hyderabad Bench lncome dated Tax(Appeals)_lV,2S_S_2OOTAct1961,BHyderabadpreferred Hvdaflsrng erabad, out against of in ITA the ITA order the No.022No.631/HOrdeof Appeal slDC3( the r yd12004, of the lncome{aUnder for Commissioner Sex assessment Appellate Tribunalction 260-4 year of of Inthe 2come Tax 001-02 Hyderabad Bench lncome dated Tax(Appeals)_lV,2S_S_2OOTAct1961,Bagainst the Order of th€ of lncome )lCrT (Af Tax tVlO3_04 dated:19-0S-2004preferredNo.AACCS89B2L / SA_201 dated 17_10_2003DepartmenHyderabad pAN/ctR Between: ffii:t:'*frgFIrlii'l,.?lll'',1;#,"i[3,tt",flfgu";sB;,i11H,,,,,:iJ-["?,J[1 AND ...Appeltant BifjrYo?"0:''ssioner [of ][lncome ][Tax, ][circre3(1) ]AayazatBhavan; Basheerbash, ...Respondent Counsei for the Appellant: SRI S. RAVI along with SRI NAGADEEPAKCOUNSEI fOr thE RESPONdENT: SRI B. SAPNA REDDY, SC FOR IT DEPARTMENTThe Court detivered the following: JUDGMENT THE [HON'BLE ] [P'SAM ] AND THE HON,BLE [NI\RAYANA ] I.T.T.[A. ][No.][ 26L][ of][ 2007] JU[DGMENT:] HeardMr'S.Ravialongrt.ithMr.Nap;adeepak,learncclcounselslor the [appellant ][and ][Ms ] [Sapna ][Reddy' learned ][Junior ][Standing]counsel [for ][Income ][Tax ][appearing for ][the ][respondent ][and ][perused ][the]record 2The instant [appeal ][has been ][llled ][by ][lhe ][appcllar-rt ][ass:riling ][thc]orrler claled [25 ][05.2OO7 ][Passed]1nI.T.F.No.631/tiYdi2004 [bY ][the]lncome-Tax [Appettate ][Tribunai, ][Hyderabad Bench ]['B" ][Hydcrabad] 3. Today, when [the ][matter was ][taken ][up ][for ][hearing' thc ][lcarned]Senior counsel [has produced ][beforc ][this ][court ][a ][copy ][of ][an ][order]passed b1' the [lcarned ][National ][Compan:/ ][Lerw ][Tribunal' ][H\'derabad'](briefl1, the Tribunal' [hereinafter), ][vide ] [(lBC) 1198 ][&' ][1a7-::12022 ][in]CP(IB) No.17l [g ]IHDB/2O2O, [dated ][31'O3 2023, ][wherein' ][the ][Tribunal]has approved the [revised Resolution ][I'lan ][dated ][16 ][12 ][2022 ][and]specificalty held that [in ][the ][light ][of ][the ][approval ][of ][the ][revised]Resolution Plan, all [crystallized ][liabilities ][and ][unclaimcd ][liabilities ][ol]thc Corporatc [Debtor ][as ][on ][the ][date ][of the ][ordcr shall ][stand]extinguished 1.. In view of thc order so ;tassecl b_r, rhc 'I.ribunal vidc IA (i[]C11ig8 & t47s/2022 in CP(IB) No.i7l9/FrDts/2020, datcd 3t.O3.2O23,the instant appeal stands dispose<1 of. No ordcr asj to costs. Consequently, rnisccllaneous petiLions pendrng, if an1.., shall stand closed. Sd/. K SRINIVASA RAOJolrPHl\EGlsrRAR//rRUE copy// To, SECT|ON oFFtcER '1. The lncometax Appellate Tribunal, Hyderabad Bench ,B 2. The Commissioner of lncome Tax iapp""Gllv Hyderabad, Hyderabad3. The Income Tax Depa(ment, Hyderabad4. One CC to SRt S. RAV|, Advocite IOPUCI! [One ] [to SRt NAGADEEPAK, ]aovocateiOeUCl6. One cc to sRt B.sApNA REDDY, sc ron-rr oEPARTMENT 7. Two CD Copiestopucl kam ADK \-\' HIGH COURT DATED:1 410912023 JUDGMENT lTTA.No.261 of 2007 DISPOSING OFTHE APPEAL (69[srAllt]ol-eAela)[1ilo\lr).2!+*I,t)jr Cr:[<o]"r.:{