ORDER :

P.SAM KOSHY, J.

The present writ petition has been filed seeking for issuance of a Writ of Mandamus challenging the decision to withhold the refund which is issued proposing adjustment of refund towards outstanding demand. The petitioner also seeks for setting aside the impugned order dated 10.01.2023 (Annexure P7) passed by respondent No.2 under Section 143(1) of the Income Tax Act, 1961 (for short, ‘the Act’) for the assessment year 2022-2023.

2. Heard Mr. Govinda Rao, learned counsel for the petitioner and Mr. Vijhay K.Punna, learned Senior Standing Counsel for Income Tax appearing for respondents.

3. The brief facts relevant for adjudication of the present writ petition are that the petitioner establishment namely M/s. Thalaivar Steels Limited which was earlier known as Splendid Metal Product Limited filed a company petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, before the National Company Law Tribunal, Hyderabad Bench, Hyderabad (briefly referred to hereinafter as ‘NCLT’) which was registered as C.P. (IB) No.666/7/HDB/2018 The said company petition stood admitted and proceedings for Corporate Insolvency Resolution Process (CIRP) was initiated. One Mr