NATIONAL COMPANY LAW TRIBUNAL COURT-V, MUMBAI BENCH

1. APPEAL/52(MB)2024 IN THE MATTER OF The Income Tax Department Through I to 12 2 1 Mumbai … Petitioner Vs Registrar Of Companies Mumbai … Respondent U/s 252 (1) of the Companies Act, 2013 Order Delivered on 24.02.2026 CORAM:

SH. NILESH SHARMA SH. CHARANJEET SINGH GULATI MEMBER (J) MEMBER (T)

Appearance through VC/Physical/Hybrid Mode:

For the Petitioner:

For the Respondent:

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ORDER APPEAL/52(MB)2024- The above Appeal is listed for pronouncement of order. The same is pronounced in open Court, vide a separate order.

Sd/- Sd/-

CHARANJEET SINGH GULATI NILESH SHARMA Member (Technical) Member (Judicial)

//Avdhesh (PS)//

NATIONAL COMPANY LAW TRIBUNAL MUMBAI BENCH COURT V INCOME TAX DEPARTMENT THROUGH ITO, 12(2)(1), MUMBAI .…Appellant Vs REGISTRAR OF COMPANIES, MUMBAI

100, Everest, Marine Drive, Mumbai – 400 002, Maharashtra …Respondent No. 1 HARSHOK PROPERTIES PRIVATE LIMITED CIN: U70101MH2006PTC165688 Gitanjali Apartment, 7^th Floor, Flat No. 701- 702, Chandavarkar Cross Road, Borivali (West)

Mumbai – 400 092 …Respondent No.2 Order pronounced on: 24.02.2026 Coram:

NILESH SHARMA, HON’BLE MEMBER (JUDICIAL)

CHARANJEET SINGH GULATI HON’BLE MEMBER (TECHNICAL)

Appearance:

For the Appellant: Adv. Subir Kumar a/w Diksha Pandey (PH)

For the ROC Mumbai: Ms. Kinnari Mukadam, AROC, Mumbai (VC)

ORDER

1. This appeal has been filed under 252(3) of the Companies Act, 2013 by The Income Tax Officer, Ward 12(2)(1), Mumbai (hereinafter referred as "Appellant") seeking restoration of the name of M/s Harshok Properties Private Limited, having CIN No. U70101MH2006PTC165688 (hereinafter referred as "Respondent No. 2 Company"), in the Register of Companies maintained by the Registrar of Companies, Mumbai (hereinafter referred as "ROC/Respondent No. 1").

Brief Facts and Submissions of the Appellant:

2. M/s Harshok Properties Private Limited (Respondent No. 2) was incorporated on 21.11.2006 under the provisions of the Companies Act, 1956. The Authorised Capital of the Company was Rs. 24,00,000/- and the Paid-up Capital was Rs. 21,00,000/-. The name of the Respondent No. 2 Company was struck off from the Register of Companies vide Notice in Form No. STK-7 dated

10.07.2017 under Section 248(1) of the Companies Act, 2013.

3. The Appellant submits that information pertaining to the Respondent No. 2 Company became available on the INSIGHT Portal of the Income Tax Department, which was flagged under the Risk Management Strategy (RMS) formulated by CBDT under the head "Non-filing of Return - PAN Cases" for Assessment Year 2019- 20. On analysis and verification of the said information, it was found that during Financial Year 2018-19, interest income amounting to Rs. 15,52,734/- was credited in the name of the Respondent No. 2 Company, on which TDS of Rs. 1,55,273/- was deducted.

4. On the basis of this information, proceedings under Section 148A of the Income Tax Act, 1961 were initiated. A notice under Section 148A(a) was issued on 17.02.2023, followed by a show cause notice under Section 148A(b) dated 13.03.2023, calling upon the Company to explain as to why proceedings under Section 148 of the Act should not be initiated, as income chargeable to tax for the relevant year was believed to have escaped assessment.

5. In response to the notice under Section 148A(b), the Respondent No. 2 Company submitted that it had entered into a loan agreement with M/s Wanneep Solar Pvt. Ltd., pursuant to which interest income of Rs. 15,52,734/- had accrued, on which TDS amounting to Rs. 1,55,273/- was deducted. The company further contended that it had been struck off from the register of companies since 10.07.2017 and that its bank accounts stood frozen, resulting in non-receipt of the said interest income.

6.