Naresh Salecha ORDER
1. This appeal is directed against the order dated 28.09.2022 passed by the National Company Law Tribunal, Chandigarh Bench, Chandigarh by which two applications bearing I.A. No. 317 and 535 of 2021, filed under Section 60 (5) of the Insolvency & Bankruptcy Code, 2016 (in short 'Code') by the Liquidator of M/s. Supreme Tex Mart Limited (Company under liquidation) against the Deputy Commissioner of Income Tax, Punjab have been allowed.
2. Briefly put, the Allahabad Bank filed an application under Section 7 of the Code against M/s. Supreme Tex Mart Limited which was admitted on 29.09.2017.
3. In the absence of the Resolution Plan, liquidation order was passed on 08.08.2018 and the Appellant filed its claim with the Erstwhile Liquidator which was admitted to the extent of Rs. 7,36, 59,888/-.
4. However, after the initiation of the liquidation proceedings, the Appellant- Income Tax Department passed an assessment order pertaining to the assessment year 2018-19 on 13.05.2021 and issued notice under Section 274 r/w Section 271 AAC (1) of the Income Tax Act, 1961 to the company under liquidation.
5. Aggrieved against these proceedings, the Liquidator filed the aforesaid two applications before the Tribunal, relying upon Section 33(5) of the Code to contend that after the liquidation order is passed no suit or any other legal proceedings are allowed to be continued by or against the Corporate Debtor, whereas the Appellant- Income Tax Department has assessed the company under liquidation, vide its order dated 13.05.2021, for the assessment year 2018-19 and has also issued a show cause notice on 29.09.2021 which is hit by Section 33(5) of the Code.
6. Counsel for the Appellant has vehemently argued that the Appellant is not debarred even under Section 33(5) of the Code to frame the assessment. In this regard, he has referred to a decision of the Hon'ble Supreme court rendered in the case of Sudaresh Bhatt, Liquidator of ABG Shipyard vs. Central Board of Indirect Taxes and Customs [MANU/SC/1060/2022 : (2023) 1 SCC 472 (SC)] and drew our attention to paragraph 57 (1) of the said judgment, where the conclusion has been drawn by the Hon'ble Supreme Court as under :-
"57.1 Once moratorium is imposed in term of Section <........