ITA Nos. 3580, 3604, 3581 & 3605/Del/2024

Parties Involved

Facts Summary

The appeals were filed by Shefali Bansal and Surender Kumar Bansal against the orders of the Ld. CIT(Appeals)-28, New Delhi in proceedings under Section 153A/143(3) of the Income Tax Act, 1961. The appeals pertain to the assessment years 2013-14 and 2014-15. The assessees were represented by Shri Nirbhay Mehta, Adv., and the department was represented by Shri Mahesh Kumar, CIT(DR). The appeals were taken up analogously for hearing and are being disposed of by a single composite order. The appeals were influenced by the order delivered by the National Company Law Tribunal, Court-III (Special Bench), on 08.01.2026, recommending the admission of IB-382(ND)/2024 & IB-383(ND)/2024 filed by the Central Bank of India for initiation of PIRP qua the Personal Guarantors Ms. Shefali Bansal and Mr. Surender Kumar Bansal.…

Legal Issues

• 1. Whether the appeals can proceed in light of the NCLT order recommending admission of IB-382(ND)/2024 & IB-383(ND)/2024 filed by the Central Bank of India for initiation of PIRP qua the Personal Guarantors?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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