Urvara Agro Biotech Pvt. Ltd v. Dy. Commissioner of Income Tax, Bhubaneswar
2022-12-14
S.TALAPATRA, SAVITRI RATHO
body2022
DigiLaw.ai
JUDGMENT 1. Learned counsel for the Petitioners points out that in Union of India v. M/s. Ganpati Dealcom Pvt. Ltd., AIR 2022 SC 4558 , it has been held that against a Company under a resolution process in terms of the Insolvency and Bankruptcy Code the concerned authorities cannot initiate or continue criminal prosecution or confiscation proceedings for transactions entered into prior to the coming into force of the Benami Transactions (Prohibition) Amendment Act, 2016 i.e. 25th October, 2016. 2. Learned Senior Standing Counsel for the Revenue Department informs the Court that a review petition (Diary No.34619 of 2022) seeking review of the above judgment has been filed in the Supreme Court of India on 31st October, 2022 and, therefore, prays for an adjournment. 3. At his request, list on 13th April, 2023. The interim order passed in all the above cases shall continue till then.