IN RE Vs. GUJRAT NRE COKE LTD

JUDGEMENT

(1.) Shri Sumit Binani, Resolution Professional (RP) has moved a C.A. 465/KB/2017 and sought relief that respondent be restrained from demanding and/or from taking any steps to recover the said amount a sum of Rs. 1,47,78,52,431/- till continuation of the moratorium declared by this Hon'ble Tribunal.

(2.) During arguments Ld. RP has draw our attention on the order of the Dy. Commissioner of Income Tax dated 03/08/2017 which shows that in AY 2006-07 Rs. 1,31,46,490/-; AY 2007-08 Rs. 54,24,739/- and AY 2008-09 Rs. 6,16,28,796/-are refundable against an outstanding demand in AY 2011-12 15,34,691/-; AY 2012-13 Rs. 67,67,19,160/- and AY 2013-14 Rs. 79,95,98,580/- respectively.

(3.) Further RP has said the amount is due and receivable by the Company so Income Tax Authority may be directed to refund that amount. Whether amount is refundable or not decision is to be taken by the Income Tax Department.