AI Structured Summary
Not yet generated for this judgment
Judgment
Hemant Kumar Sarangi, Member (T)
This appeal is filed by Income Tax Authority, through its Income Tax Officer, under Section 252(1) of the Companies Act, 2013 (for brevity 'the
Act') against the order of striking off the name of the company under section 560 of the Companies Act, 1956 by Registrar of Companies, passed by
the respondent herein.
The company is incorporated as a Private Limited Company under the provision of Companies Act, 1956 with the Registrar of Companies, NCT of
Delhi and Haryana on 20.06.2007 having CIN U67190DL2007PTC164975.The company is having registered office at D-19, SMA Industrial Estate,
GT Karnal Rad, New Delhi-110033. Authorized share capital of the Company is Rs.10,00,000/- and paid up share capital of the Company is
Rs.1,00,000/-
The appellant has submitted that service was duly effected on the respondents. Other than the Registrar of companies, none appeared on behalf of
the other respondent to oppose the prayer made by the appellant. While Respondent No. 2 & 3 were proceeded ex-parte, Respondent No.1, Registrar
of companies, submits that they have no objections to the prayer of the applicant being granted by this bench.
The Appellant prays for the restoration of the company MIS Infinite Equity Solutions Private Limited in order to take forward proceedings initiated
against the company. As per averments, on the basis of the Non-Filers Monitoring System, information received by the Income Tax department,
indicates that the respondent company had received an amount of Rs 13,96,780/- during the financial year 2012-13. The company has received Rs
5,05,155/- in the form of sale of equity share in recognized stock exchange, Rs 3,95,000/- in the form of sales of future derivates in recognized stock
exchange, Rs 44,500/- in form of sale of option in securities derivates in a recognized stock exchange and contract of Rs 4,53,125/- in commodities
exchange. The company has not filed its return for the assessment year 2013-14, relevant to the Financial Year 2012-13.
The appellant has further submitted that it appears that there is tax evasion on income which has escaped assessment within the meaning of Section
147 & 148 of the Income Tax Act and action in accordance with law is required to be initiated against the company. It is submitted that assessment of
income of the Respondent Company for the Assessment Year 2013-14 was initiated. Notice dated 29.03.2018 under section 148 of the Income Tax
Act, 1961 was issued to the respondent at its registered address through affixation, which was retuned as unserved/remained uncompiled with.
The assessment order for assessment year 2013-14, dated 06.12.2018 was also issued on the respondent which is at Annexure -A2, to which no
response was ever received.
7 The Ld. Counsel for the Income Tax submits that in order to recover the taxes and to charge the transactions from the respondent company, it
necessitate restoration of the name of the Respondent Company in the Register of Companies to proceed further in accordance with law, since as on
date the proceedings cannot continue against the company, as it has been struck off from the registrar of companies.
In the above circumstances, this appeal is allowed. The income tax department is an aggrieved party within the meaning of section 252(1) and also
a creditor under section 252(3) as it has to recover taxes payables by respondent company and great prejudice will be caused to revenue if the name
of the respondent company is not restored back. The Registrar of companies is therefore directed to restore the name of the Respondent Company in
their Register and also proceed to take such other and further penal action against the respondents in accordance with the statutory provisions. The
name of the said Company shall then, as a consequence, stand restored to the Register of the Registrar of Companies, as if the name of the company
had not been struck off.
The appeal is disposed of accordingly.
Let the copy of the order be served to the parties.