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Bdr Finvest Pvt Ltd vs Deputy Commissioner Of Income Tax & Ors on 27 August, 2021

Author: Manmohan

Bench: Manmohan, Navin Chawla

                              $~29
                              *    IN THE HIGH COURT OF DELHI AT NEW DELHI
                              +     W.P.(C) 9043/2021
                                    BDR FINVEST PVT LTD                                      ..... Petitioner
                                                         Through      Ms. Kavita Jha, Mr. Anant Mann an d
                                                                      Mr. Aditeya Bali, Advocates

                                                         versus

                                    DEPUTY COMMISSIONER OF INCOME TAX & ORS.
                                                                              ..... Respondents
                                                Through  Mr.Zoheb Hossain, Sr. SC with
                                                         Mr.Vipul Agrawal, Mr.Parth Semwal,
                                                         Jr.SC for R-1 & 2.
                                                         Mr.Vekas Kr. Garg, Resolution
                                                         Professional in person.

                                    CORAM:
                                    HON'BLE MR. JUSTICE MANMOHAN
                                    HON'BLE MR. JUSTICE NAVIN CHAWLA
                                            ORDER

% 27.08.2021 The hearing has been conducted through video conferencing. CM No.28118/2021 (Exemption) Allowed, subject to all just exceptions.

WPC 9043-2021 & CM No.28117/2021 By way of the present petition, Petitioner seeks directions to the Respondent No.1 to give credit of Rs.29,16,674 being the tax deducted at source ['TDS'] for assessment year 2019-20 by Ninex Developers Ltd. ['Ninex'] which was wrongly denied by the Respondent No.1 on the ground that the said amount is not reflecting in the Form 26AS of the Petitioner.

Learned Counsel for the Petitioner states that the Petitioner has suffered deduction of tax at source and the same has not been allowed as credit merely on the ground that the deductor has not deposited the same.

Learned Counsel for the Petitioner states that Ninex is under Corporate Insolvency Resolution Process ['CIRP'] and the Resolution Professional has been appointed by the NCLT.

She emphasis that Respondent No. 3 has duly issued certificate acknowledging the Petitioner as a corporate creditor to the tune of Rs.26,99,950/- being the amount deducted on account of TDS on interest payable to the Petitioner; and that the said amount of TDS was not deposited in accordance with the Act.

Issue notice. Notice is accepted by Mr.Zoheb Hossain, Advocate on behalf of the respondent nos.1 and 2 and by Mr.Vekas Kumar Garg, Resolution Professional, respondent no.3.

The respondent no.3 states that he has already furnished a certificate, which has been filed as Annexure E to the writ petition. He states th at he has nothing further to add in the present case. The statement made by the Resolution Professional is accepted by this Court and his presence is dispensed with.

Both the parties are directed to file their short written submissions not exceeding five pages each within four weeks.

List on 1 st October, 2021.

Till further order no coercive action shall be taken by the respondents to recover Rs.29,16,674/- from the petitioner, being the tax deducted at source, by Ninex Developers Ltd for the assessment year 2019-20.

The order be uploaded on the website forthwith. Copy of the order be also forwarded to the learned counsel through e-mail.

MANMOHAN, J NAVIN CHAWLA, J AUGUST 27, 2021/Arya Signature Not Verified Digitally Signed By:JASWANT SINGH RAWAT Signing Date:28.08.2021 22:49:41