NCLT Mumbai-1 (01.07.2022) in Divyesh Desai (Liquidator for Precision Fasteners Limited) Vs. Deputy Commissioner of Income Tax Circle [IA 2607/2021 in C.P.(IB) 1339/MB/2017] held that;
This Bench is satisfied and accordingly the Deputy Commissioner of Income Tax Circle 1(2)(2), Mumbai, Aayakar Bhawan, Mumbai is directed to remit back the amount to the Corporate Debtor Company forthwith. (refund of TDS aggregating to Rs. 93,81,464/-)
Excerpts of the order;
This is an Application filed by Mr. Divyesh Desai, Liquidator of the Corporate Debtor. In this Application the Liquidator has averred that despite the Service of Notice, none is present today for, the Deputy Commissioner of Income Tax Circle 1(2)(2), Mumbai, Aayakar Bhawan, Mumbai, the Respondent here in. Record reveals that this Application was listed on Board on 27.01.2022, on which date none was present for the Respondent and the Applicant was directed to intimate the next date of hearing and file Affidavit of Service. Thereafter, this Application was repeatedly getting adjourned and was listed on Board on 05.04.2022, on which date the Respondent was not present and the present Application was proceeded exparte against the Respondent.
We have heard Ld. Counsel for the Applicant finally. The Applicant/Liquidator in this Application has prayed that the Assessing Officer/Income-tax Department may be directed to refund TDS aggregating to Rs. 93,81,464/- to the Corporate Debtor Company. Having considered the submission of the Counsel appearing for the Liquidator and on perusal of the material placed before this Bench, this Bench is satisfied and accordingly the Deputy Commissioner of Income Tax Circle 1(2)(2), Mumbai, Aayakar Bhawan, Mumbai is directed to remit back the amount to the Corporate Debtor Company forthwith.
With the aforesaid observations, the Application bearing IA 2607 of 2021 is allowed and disposed of.
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