IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH ‘F’’ : NEW DELHI)

BEFORE SHRI ANUBHAV SHARMA, JUDICIAL MEMBER AND SHRI KRINWANT SAHAY, ACCOUTANT MEMBER ITA No. 4514/Del/2018 (Asstt. Year : 1993-94)

ITA No. 6218/Del/2017 (Asstt. Year 1994-95)

AND ITA No. 7501/Del/2018 (Asstt. Year 1995-96)

DCIT, CIRCLE-3(2), NEW DELHI vs. M/S ASIAN CONSOLIDATED INDUSTRIES LTD., 96^TH MILE STONE, DELHI-JAIPUR HIGHWAY, VILLAGE-BAWAL, DISTT.- REWARI, HARYANA (PAN: AAACA5887A)

(Appellant) (Respondent)

Assessee by : Sh. Ved Jain, Adv. & Sh. Ayush Garg, CA Department by : Ms. Monika Singh, CIT-DR Date of Hearing 20.08.2025 Date of Pronouncement 27.08.2025 ORDER PER KRINWANT SAHAY, AM:

These appeals have been filed by the Revenue relating to assessment years

1993-94, 1994-95 and 1995-96 in the case of the same assessee viz. M/s Asian Consolidated Industries Ltd. Since the issues involved in these appeals are inter-connected, hence, the appeals were heard together and are being consolidated and disposed of by this common order for the sake of convenience., by dealing with first with ITA No. 4514/Del/2018 (AY 1993-94). 2. Brief facts of the case are that the assessee company M/s. Asia Consolidated Industries Ltd. is a limited company incorporated under the Companies Act 1956 on 8.01.1995 by the name of M/s. Asian Can Ltd. which was subsequently changed to M/s. Asian Consolidated Industries Ltd. The company was engaged in the business of manufacturing of Flexible Packaging, Laminate, Open Top Sanitary Cans and General line metal Cans. By virtue of order of Hon'ble Punjab & Haryana High Court dated 06.01.1994, Asian Closures Limited got merged with the assessee company w.e.f. 20.03.1992. Further by virtue of another order of Hon'ble Punjab & Haryana High Court dated 28.07.1995, M/s. Trans Asia Packaging Ltd. was also merged with the assessee company w.e.f. 01.04.1992.

3. The original assessment of all three companies were made independently. In the assessment order passed by the Assessing Officer, certain additions and disallowances were made against which, each of these companies filed appeal before CIT(A).

4. In the meantime, a liquidation petition was filed by Gujarat State Financial Services on 16.10.1997 and an order was passed by the Hon'ble Punjab & Haryana High Court for winding up of the company and appointed a Liquidator w.e.f. 07.01.1999. During the liquidation, CIT(A) took up all the abovesaid appeals and in the absence of any proper representation from the liquidator all the appeals were dismissed vide order dated 29.03.2001. Thereafter, the Revival Petition was filed before Hon'ble Punjab & Haryana High Court for reviving the company. Hon'ble Punjab & Haryana High Court allowed the revival of the company and vide order dated 08.03.2013, allowed liberty to the ex-management of the assessee company to challenge/contest the order passed during the pre-post liquidation period. Accordingly, the assessee company filed appeals before ITAT.

5. The ITAT vide its common order dated 19.06.2015 allowed the appeal of the assessee setting aside the assessment order passed by the AO with a direction to make assessment available giving out an adequate opportunity to the assessee. The relevant para of the ITAT’s order reads as under:- "We have considered the submission of both the parties and carefully gone through the material available on the record. In the present case, it appears that the department passed the ex-parte order during the period of liquidation and Ld. CIT-1, Delhi while deciding the petition of the assessee and section 264 of the Act for the assessment year 1996-97 to 2001-2002 vide separate orders each dated 11.03.2015 set aside the issues to the file of the AO for making assessment de novo after giving reasonable opportunities of being heard to the assessee. We, therefore, considering the totality of the facts deem it appropriate to remand all the cases under consideration to the file of the AO to be decided expeditiously afresh in accordance with