Principal Commissioner Of Income Tax 2 Kolkata v. Srei Infrastructure Finance Ltd

OD-27

IN THE HIGH COURT AT CALCUTTA

SPECIAL JURISDICTION [INICOME TAX] ORIGINAL SIDE ITAT/101/2025 IA NO: GA/2/2025 PRINCIPAL COMMISSIONER OF INCOME TAX-2, KOLKATA VS SREI INFRASTRUCTURE FINANCE LIMITED BEFORE :

THE HON'BLE THE CHIEF JUSTICE T.S SIVAGNANAM -A N DHON'BLE JUSTICE CHAITALI CHATTERJEE (DAS) DATE : 18th June, 2025.

Mr. Soumen Bhattacharjee, Adv.

Ms. Shradhya Ghosh, Adv.

...for appellant Mr. Somak Basu, Adv.

...for respondent.

The Court : This appeal filed by the revenue under Section 260A of the Income Tax Act, 1961 (the Act) challenging the order passed by the Income tax Appellate Tribunal, "A" Bench, Kolkata (Tribunal) in ITA No. 1157/Kol./2023, dated 29th April, 2024 for the assessment year 2017-18. Similar order was passed in the assessee's own case for the assessment year 2013-14 and the revenue filed an appeal before this Court being ITAT 147 of 2024, which was dismissed by judgment and order dated 24th May, 2023. In the said appeal submission was made by the learned counsel for the assessee

that the respondent company has gone through a Corporate Insolvency Resolution Process (CIRP), which was approved by the National Company Law Tribunal (NCLT) by order dated 11th August, 2023. Since the resolution plan has been approved by the NCLT, revenue cannot pursue the appeal and therefore the said appeal was dismissed.

The said order would squarely apply to the case on hand as it concerns the very same assessee for the subsequent year namely, 2017-18. For the above reasons, the appeal stands dismissed. The substantial questions of law as suggested are left open. The stay application, IA NO: GA/2/2025, is also dismissed. (T.S. SIVAGNANAM, CJ. ) (CHAITALI CHATTERJEE (DAS), J.) Pkd./SN/S.Das AR[CR]