Principal Commissioner Of Incometax-1, Kolkata v. M/S. Macnally Bharat Engineeringltd

ITAT/109/2021IA No.GA/2/2021 IN THE HIGH COURT AT CALCUTTASpecial Jurisdiction (Income Tax)ORIGINAL SIDE PRINCIPAL COMMISSIONER OF INCOMETAX-1, KOLKATA -Versus- M/S. MACNALLY BHARAT ENGINEERINGLTD. Appearance:Ms. Smita Das Dey, Adv....for the appellant.Mr. A. K. Dey, Adv....for the respondent. BEFORE: The Hon’ble JUSTICE T.S. SIVAGNANAM -And- The Hon’ble JUSTICE BIVAS PATTANAYAK Date : 7[th] July, 2022.The Court : This appeal filed by the revenue underSection 260A of the Income Tax Act, 1961 (the ‘Act’ for brevity)is directed against the order dated 22[nd] November, 2019 passed bythe Income Tax Appellate Tribunal, “C” Bench, Kolkata in ITA Nos.147 & 109 & C.O. Nos. 35 & 36/Kol/2018 for the assessment years2010-11 and 2011-12. We have heard Ms. Smita Das Dey, learned standing counselfor the appellant/revenue and Mr. A. K. Dey, learned Advocateappearing for the respondent. Learned counsel appearing for the respondent submittedthat the respondent/company has gone into liquidation and theNational Company Law Tribunal, Kolkata Bench-I, Kolkata by itsorder passed in CP.(IB)No.891/KB/2020 dated 29[th] April, 2022 hasadmitted the petition filed under Section 7 of the Insolvency andBankruptcy Code read with 2016 Rules for initiating CIRP againstthe respondent/assessee. The operative portion of the orderpassed by the NCLT is contained in paragraph 13 therein. In the light of the subsequent development, theappellant/revenue cannot proceed with the present appeal.Accordingly, the present appeal (ITAT/109/2021) stands disposed offor the aforementioned reasons and the substantial questions oflaw which have been raised by the revenue are left open. Consequently, the connected application for stay (IANo.GA/2/2021) also stands closed. (T.S. SIVAGNANAM, J.) (BIVAS PATTANAYAK, J.) As./S.Das.