Principal Commissioner Of Income Tax-2 vs Srei Infrastructure Finance Limited
2025 Latest Caselaw 1824 Cal/2

Calcutta High Court

Principal Commissioner Of Income Tax-2 vs Srei Infrastructure Finance Limited on 18 June, 2025

Author: T.S. Sivagnanam

Bench: T.S Sivagnanam

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 D-
HON'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 24 th 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]