The case ITA No. 1112/DEL/2021 involves the appeal filed by Sadhna Media Pvt. Ltd. against the order of Principal Commissioner of Income Tax (Pr.CIT) Central Delhi-3, invoking Section 263 of the Income Tax Act, 1961 for the assessment year (AY) 2014-15. The appeal was filed on 14th September 2021, and the final tribunal order was pronounced on 23rd November 2022.
Sadhna Media Pvt. Ltd., the appellant, filed four appeals for AYs 2014-15 to 2017-18 against the orders of the Pr.CIT Central Delhi-3 dated 24th March 2021. All four appeals were heard together and disposed of by way of a consolidated order. This article focuses on ITA No. 1112/DEL/2021 for AY 2014-15, which serves as the lead case.
The appellant raised the following grounds of appeal:
During the hearing on 23rd November 2022, the appellant’s representative requested an adjournment of the case sine die due to the ongoing insolvency proceedings involving Sadhna Media Pvt. Ltd. before the National Company Law Tribunal (NCLT). The relevant details of the NCLT order dated 30th March 2022 were presented, indicating that the corporate debtor had admitted the debt and required time to repay the financial creditor.
The Tribunal considered the facts and submissions, noting that the appellant company had entered insolvency proceedings. The Tribunal dismissed the appeal with the liberty to approach the Tribunal for restoration of the appeal after the final order by the NCLT.
The appeal filed by Sadhna Media Pvt. Ltd. was dismissed by the Tribunal, with a provision to restore the appeal after the conclusion of the insolvency proceedings. The identical grounds raised in the other three appeals (ITA Nos. 1113 to 1115/DEL/2021) for AYs 2015-16 to 2017-18 were also dismissed based on the same reasoning.
The order was pronounced in the open court on 23rd November 2022 by Shri N.K. Billaiya, Accountant Member, and Shri Kul Bharat, Judicial Member.
In the Income Tax Appellate Tribunal, Delhi “H” Bench, New Delhi, the case ITA Nos. 1112 to 1115/DEL/2021 for AYs 2014-15 to 2017-18 were heard and decided. The final judgment details are as follows:
ITA No. 1112/DEL/2021 (AY 2014-15):
Sadhna Media Pvt. Ltd., 38, Rani Jhansi Road, Jhandewalan, New Delhi-110055. PAN-AAHCS4532K vs Pr. CIT (Central), Delhi-3, New Delhi.
Appellant: Shri Shubham Jain, CA
Respondent: Shri M. Baranwal, CIT DR
Date of Hearing: 23.11.2022
Date of Pronouncement: 23.11.2022
PER KUL BHARAT, JM:
This bunch of four appeals filed by the assessee for the assessment years 2014-15 to 2017-18 are directed against the orders of Ld. Pr.CIT (Central), Delhi-3 dated 24.03.2021. Since identical grounds have been raised, all four appeals filed by the assessee were taken up together for hearing and are being disposed of by way of consolidated order for the sake of brevity. We take ITA No. 1112/DEL/2021 (AY 2014-15) as a lead case.
The appellant raised the following grounds of appeal:
At the outset, Ld. Counsel for the assessee/assessee company informed about the insolvency proceedings in the matter of M/s. Naman Infradevelopers Pvt. Ltd. vs M/s. Sadhna Media Pvt. Ltd. vide order No.IB-769/(ND)/2021 dated 30.03.2022. The Tribunal, after hearing the representatives and considering the facts, dismissed the appeal with liberty to approach the Tribunal for restoration of the appeal after the final order passed by the NCLT. The appeals in ITA Nos. 1113 to 1115/DEL/2021 for AYs 2015-16 to 2017-18 were also dismissed based on the same reasoning.
Order pronounced in the open Court on 23rd November 2022.
Sd/- (N.K.BILLAIYA) ACCOUNTANT MEMBER Sd/- (KUL BHARAT) JUDICIAL MEMBER
Copy forwarded to:
ASSISTANT REGISTRAR ITAT, NEW DELHI
Sadhna Media Pvt. Ltd. vs Pr.CIT Central Delhi-3 – ITA 1112/DEL/2021 – Invoking Section 263
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