IRP is the Authorized person to file Appeal against Assessment Order once Moratorium is declared: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Mumbai has held that Interim Resolution Professionals (IRP) is the authorized person to file an appeal against the assessment order once a moratorium is declared.

The appellant, M/s. Krishna Knitwear Technology Ltd. and its other group concerns filed an appeal against the order of CIT (A) confirming the reopening of assessments under section 147/148 of the Income Tax Act, 1961. The appellant submitted that the notice under section 143(2) of the Act was not served within the prescribed period.

The Tribunal observed that proceedings under the Insolvency and Bankruptcy Code (I&B Code) have already been initiated/decided and a moratorium has been declared by prohibiting all the proceedings against the corporate debtors including the execution of any judgment, decree, or order of any court of law, tribunal, arbitration panel or other authority, hence appeals not filed by the Interim Resolution Professionals (IRP) who can file an appeal with approval of the committee of creditors are not maintainable.

The Coram of Mr. Kuldip Singh, Judicial Member, and Mr. Om Prakash Kant, Accountant Member has held that “appeals filed by the assessee companies are disposed of with liberty to file a fresh appeal in the proper format, duly verified by the person authorized to file the return of income or to get the present appeal restored by moving an application”.

Mr. Jasdeep Singh appeared on behalf of the revenue.

To Read the full text of the Order CLICK HERE

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