Case Law Details
PCIT Vs Amrapali Sapphire Developers Pvt Ltd (Delhi High Court)
Introduction: The Delhi High Court recently addressed appeals related to Assessment Years 2010-11 to 2014-15 in the case of PCIT vs. Amrapali Sapphire Developers Pvt Ltd. The appeals centered around orders passed by the Income Tax Appellate Tribunal (ITA) and were complicated by the ongoing Corporate Insolvency Resolution Process (CIRP) involving companies from the Amrapali Group.
Detailed Analysis: The appeals (ITA Nos. 329/2022, 337/2022, 340/2022, 341/2022, 343/2022, 345/2022, and 646/2023) contested orders from the Tribunal dated 03.2021, 08.04.2021, and 17.06.2021. The Tribunal had dismissed the appeals filed by both the assessee and the revenue due to the respondent/assesse undergoing CIRP.
Despite repeated attempts to gather information on the insolvency proceedings and the relevant parties, the court faced challenges in obtaining clarity. It was noted that the proceedings regarding the Amrapali Group were under consideration by the Supreme Court.
After more than a year of uncertainty, the court decided to close the appeals, granting liberty to the appellant/revenue to approach the court for revival when there is clarity in the matters related to the Amrapali Group. As a result, pending applications, including those concerning the condonation of delay in re-filing the appeal, were closed.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Author Bio
