IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “A” NEW DELHI BEFORE SHRI CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER AND SHRI AVDHESH KUMAR MISHRA, ACCOUNTANT MEMBER आ.अ.स/ं .I.T.A Nos.1312 to 1315/Del/2024 िनधा(cid:9)रणवष(cid:9)/Assessment Years: 2008-09 to 2010-11 & 2012-13 ADTV Communications Pvt. Ltd., बनाम ACIT, B-8, Basement Floor, Vs. Central Circle-16, Ansal Tower 38, Nehru Place, Delhi.

Delhi.

PAN No.AACCK2036M अपीलाथ(cid:18) Appellant (cid:20)(cid:21)यथ(cid:18)/Respondent Assessee by None Revenue by Mr. Javed Akhtar, CIT DR सनु वाईक(cid:10)तारीख/ Date of hearing: 09.01.2025 उ(cid:16)ोषणाक(cid:10)तारीख/Pronouncement on 09.01.2025 आदेश /O R D E R PER C.N. PRASAD, J.M.

These appeals are filed by the Assessee against different orders of Ld. CIT(Appeals)-26, New Delhi for the assessment years 2008-09 to 2010-11 and 2012-13 in sustaining various disallowances made in the assessment order.

2. Though notices were issued on several occasions none appeared on behalf of the assessee. However, from the record before us it is noticed that assessee vide letter dated 8.1.2025 requested to take on record the order of the National Company Law Appellate Tribunal, Principal Bench, New Delhi in Company Appeal (AT) (Insolvency) No.849/2023 and IN No.2894 & 2895/2023 dated

17.12.2024.

3. On perusal of the order of the National Company Law Appellate Tribunal (NCLAT), we observe that the National Company Law Appellate Tribunal directed the adjudication authority i.e. National Company Law Tribunal (NCLT) to admit application filed against the assessee u/s 7 of the Insolvency and Bankruptcy Code. It is also observed that the NCLAT directed the adjudicating authority i.e. NCLT to appoint an interim resolution professional and take necessary steps as per insolvency and bankruptcy code. By virtue of this order of NCLAT which accepted the application filed by the operational creditor against the assessee for initiating proceedings under IBC, Insolvency and Bankruptcy Code had an overriding effect over provisions of Income Tax Act and, therefore, parallel proceedings under Income Tax Act are not permissible.

4. We observe that the Mumbai Bench of the Tribunal in the case of Pratibha Industries Ltd. Vs. DCIT (142 taxmann.com 295) taking note of the decision of the Hon’ble Apex Court in the case of Pr.CIT Vs. Monnet Ispat & Energy Ltd. (107 taxmann.com 481) wherein the Hon’ble Apex Court held that IBC has an overriding effect over the provisions of IT Act, dismissed the appeals of the Revenue as well as the Assessee as the proceedings under Insolvency and Bankruptcy Code 2016 are initiated on the assessee. Therefore, since NCLAT had directed to admit the Application filed by the operational creditor against the Assessee the proceedings under I.T. Act in the case of Assessee can no longer continue.

5. Thus, all the appeals filed by the assessee are hereby dismissed with the liberty to the assessee to file miscellaneous applications for recall of this order once the assessee is declared that it is out of the purview of IBC proceedings under Insolvency and Bankruptcy Code 2016, as and when situation arises.

6. In the result, all the appeals of the assessee are dismissed.

Order pronounced in the open court on 09/01/2025 Sd/- Sd/-

(AVDHESH KUMAR MISHRA) (C.N. PRASAD)

ACCOUNTANT MEMBER JUDICIAL MEMBER Dated: 09/01/2025 *Kavita Arora, Sr. P.S.

Copy of order sent to- Assessee/AO/Pr. CIT/ CIT (A)/ ITAT (DR)/Guard file of ITAT.

By order Assistant Registrar, ITAT: Delhi Benches-Delhi