WP(C)2053/2022 Page 1 of 3

$~S-60

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IN THE HIGH COURT OF DELHI AT NEW DELHI

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W.P.(C) 2053/2022 & CM APPLs.5899-5900/2022

ASIAN COLOUR COATED ISPAT LIMITED

..... Petitioner

Through:

Ms.Kavita Jha, Advocate.

versus

ASSISTANT COMMISSIONER OF

INCOME TAX & ANR.

..... Respondents

Through:

Mr.Abhishek Maratha, Advocate.

%

Date of Decision: 03^rd February, 2022

CORAM:

HON'BLE MR. JUSTICE MANMOHAN

HON'BLE MR. JUSTICE NAVIN CHAWLA

J U D G M E N T

1.

The petition has been heard by way of video conferencing.

MANMOHAN, J (ORAL)

2.

Present writ petition has been filed challenging the notice dated 31^st

3.

Learned counsel for the petitioner states that the impugned notice

calls upon the Petitioner/Corporate Debtor to furnish return of income for

the assessment year 2014-15, which is prior to the date of approval of the

resolution plan under Insolvency and Bankruptcy Code, 2016. She states

that the corporate insolvency resolution process was concluded vide order

dated 26

March, 2021 issued by Respondent No.1 under Section 148 of the Income

Tax Act, 1961 [ ‘the Act’] for the Assessment Year 2014-15.

th October, 2020 passed by the NCLT in the matter of State Bank of

India vs. Asian Colour Coated Ispat Limited in Company Application

2022:DHC:443-DB

WP(C)2053/2022 Page 2 of 3

No.1393 of 2018. She further states that after the conclusion of the

proceedings, all the liabilities and obligations of Petitioner prior to approval

of the Resolution Plan shall stand extinguished permanently from the date of

the NCLT Order. In support of her submission, she relies on the judgment of

the Supreme Court in the case of Ghanashyam Mishra & Sons Pvt. Ltd. vs.

Edelweiss Asset Reconstruction Company Limited, (2021) 9 SCC 657.

4.

Learned counsel for the petitioner states that the Petitioner filed a

reply dated 26^th May, 2021 raising preliminary objection regarding

assumption of jurisdiction. She, however, states that the Respondent issued

an intimation letter dated 9^th July, 2021 and a notice dated 7^th September,

2021 under Section 142(1) of the Act. She states that upon receipt of the

notice dated 7^th September, 2021, the Petitioner again submitted its

preliminary objections to the respondents vide letter dated 13^th

5.

Issue notice. Mr.Abhishek Maratha, learned counsel for the

respondents accepts notice. He prays that the present writ petition be

disposed of with a direction to respondent No.1 to decide the petitioner’s

objections dated 26

October,

2021. However, she states that Respondent No.1 has, till date, not disposed

of the preliminary objections to assumption of jurisdiction filed by the

Petitioner.

th May, 2021 and 13th October, 2021 as well as 20th

6.

Keeping in view the aforesaid, this Court disposes of the present writ

petition and pending applications with a direction to respondent No.1 to

decide the petitioner’s reply dated 26

December, 2021 in accordance with law.

th May, 2021, letter dated 13th October,

2021 and objections dated 20^th December, 2021 in accordance with law

within four weeks.

2022:DHC:443-DB

WP(C)2053/2022 Page 3 of 3

7.

Needless to state that till the said decision is rendered, the respondents

shall not take any further steps in pursuance to the impugned notice dated

31^st

MANMOHAN, J

NAVIN CHAWLA, J

FEBRUARY 3, 2022

TS

March, 2021.

2022:DHC:443-DB