The Commissioner of Income Tax- III v. M/s. Sujana Metal Products Limited
Court: High Court for State of Telangana
Bench: P.SAM KOSHY,NARSING RAO NANDIKONDA
Judgment date:
Case summary
High Court for State of Telangana judgment dated 2026-02-05. The Commissioner of Income Tax- III v. M/s. Sujana Metal Products Limited. Read the judgment...
Judgment text
13447 | IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAO THURSDAY, THE FIFTH DAY OF FEBRUARY TWO THOUSAND AND TWENTY SIX PRESENT THE HONOURABLE SRI JUSTICE P. SAM KOSHY AND THE HONOURABLE SRI JUSTICE NARSING RAO NANDIKONDA INCOME TAX TRIBUNA L APPEAL NO: 302 OF 2012 . 1961 Appeal under Section 260-,q of the lncome Tax Act, aggrieve by the order dated 03. 07. 2009 passed in l. T. A. No. lo}4lHydlzoot for the Assessment year 2oo1-2@2 on the file of the lncome Tax Appeflate Tribunar, Hyderabad -Bench-B, Hyderabad. Between: The Commissioner of lncome Tax- lll, lT Towers, A. C. Guards, Hyderabad ... Appellant AND M/s. Sujana Metal Products Limited, 18, Nagarjuna Circle, Panjagutta, Hyderabad. ... Respondent Counsel for the Appellant : Ms. Bokaro Sapna Reddy (Senior SC lncome Tax) Counsel for the Respondent : Mr. G. G. Ambareswari representing M/s. MN Advocates The Court delivered the following: INTHE HIGH COURT FORTHE STATE OFTEI. ANGANA AT FTYDERABA-D THE HON'BIJ SRI IUSTICE P.
SAM KOSHY AND THE HON'BLE SRI ruSTICE NARSING RAO NANDIKONDA INCOME TAX TRIBUNALAPPEAL o. 302 of 2012 DATE:05. 02. 2026 llenvccr-t: 'l (-ommrssioner he oF Income Tax-III, '[tru'crs, I l- A,C. Guards, I Ir dcrabad. ... Appellant AND \I/s. Sujana Metal Products Limited, l8 Nagarjuna Circlc, l)rn jagutta, lJyderabad. Respondent IT]DGMEN T: (pcr the Hon'ble Si Jutce P. San Ko l) Stantling Ilcard Ms. Bokaro Sapna Reddy, lcarncd Scnior 'Iax (. ounscl for lncome Department aPPearlng on lrehali oi thc rcPrese nting apPcllant; and Mr. G. V Ambareswari, Iearned c()unscl \l/s. \1. N. Advocatcs for the respondent' 2. The instant appeal under Secrion 260A of the Income Tax Act, 196l,has been prcferred by the Department against the respondent / assessee's Company aggrieved by the order dated 03. 07. 2009, in ITA. No. 1084/HYD/2007, passed by the Income Tax Appellate Tribunal Bench'B'Hyderabad, for the assessmcnt ycar 2001-2002. 3.
The respondent at the time of flrling oI the appeal was known as M/s. Sulana Metal Products Limited. Subsequent\,, it is stated that the respondent Company's name has again gonc ln for a change by rebranding the same as M/s. Splendid Metal Products Limited 4. The insant appeal is one which rvas filed in the year 201,2, ar,d upon being admitted, the matter stood pcnding before this Court for final headng. Today when thc mattcr is taken up ftrr hearing, the Iearned counsel for the respondent has informed the Court that the respondent Company has been subjectcd to insolvcncv procecdings at the behest of Punjab National Bank, the t'inancial crcditors of the respondent Company, who have approached thc National Oompany Law Tribunal, Hyderabad Bench ([or short 'NLC'I') ride LP (IB) Pagc 3 of 4 No. 66(r/7/lll)ll/2018 and the rcsPondent Company has gonc in [trr c()rp()rat(' rc srructurit]g of the same' The NCLT has at thc fust o[ instarrcc rle crdcr datcd 04. 04.
2019, admitted the commencemcnt Process ([or short'CIRP) and also Oorpo|atc lusolvcncl' Ilcsolution ()uc Nfr. llsathisan as the Insolvency Rcsolution appointed l)rofcsstonal. rr,tro iu ttrrn, was directed to take chargc oi thc ( rcspondcn t . orn1'rrnr"s management. ( we are o[ thc 5. Siocc thc lll{l) has already commenced, considercd opinion thar i[ at all if there is any claim that has to bc rnuclc lrr thc [)t:partment they would be frce to raisc thcir clairn :rgainst tht re s;rontlcnt {.. ompany before the NCLT' As sucti, rtothing rern:rins tr, bc fulitrtlicatcd uPon in the instant appcal at this iuncturc' (r- \cc,,rrltnglv, thc lnstant appeal preferred by the Departrncnt st:rncls rlispt,sttl oi irr vicw of the insolvency proccedings dras'n arrinst tlrt rcsp,rudcnt (-ompany. However, thc right of thc [)cparttrtt rrt srl,rtls tcst'rt'cd to revive the appeal in tlrc cvcrrt it :. :.
,il /' \ 4 Page 4 of resPondent to the NCLT pertatnlng before the insolvency Proceedings withdrawn' stands ComPanY stand i[ an1" shall pending etilions -7 P As a sequel, miscellaneous as to costs be no otder there shall However, closed. *55,S[lE,5ix H ,/TRUE COPY/' CTION OFFICER To, h-8, HYderabad Hyderabad-Be Appellate Tribunal' 1 The lncome Tax e Tax) [OPUC] ReddY (Senior SC lncom 2 One CC to Ms. Bokaro SaPna [oPucl 3 One CC to M/s. MN Advocates, Advocate 4 Two CD Copies DUBA w HIGH COURT DATED: OStO2t2O26 JUDGMENT ITTA. No. 3O2 ot 2012 'r' THE S {4 t o lifiq 2117 ii:; 2 4 'i. r. '. r:- \ rl)r: *. APPEAL \:- ? ')/ I ll-i;O IS DISPOSED OF Gr{'\ h*
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