NAYATI HEALTHCARE AND RESEARCH NCR PRIVATE LIMITED vs ASSESSMENT OFFICER, INCOME TAX DEPARTMENT

Judgment text excerpt

$~69 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Date of decision: 16thFebruary, 2026 + W.P.(C) 1554/2026, CM APPL. 7567/2026 & CM APPL. 7568/2026 NAYATI HEALTHCARE AND RESEARCH NCR PRIVATE LIMITED .....Petitioner Through: Mr. Giriraj Subramanium, Ms. Aadhyaa Khanna, & Mr. Aditya Sarma, Advs. versus ASSESSMENT OFFICER, INCOME TAX DEPARTMENT .....Respondent Through: Mr. Shlok Chandra, SSC with Ms. Naincy Jain & Ms. Madhavi Shukla, JSCs. CORAM: HON'BLE MR. JUSTICE DINESH MEHTA HON'BLE MR. JUSTICE VINOD KUMAR JUDGMENT DINESH MEHTA, J. (ORAL) 1. The instant writ petition is directed against the order under Section 143(3) read with section 144B of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act of 1961’), whereby an ex parte order has been passed on 24.03.2025, and a best judgment assessment made. 2. Mr. Giriraj Subramanium, learned counsel for the petitioner submitted that on account of certain financial strains/distress, the petitioner/company went into insolvency and by the order dated 05.07.2024 an Interim Resolution Professional (hereinafter referred to as ‘IRP’) was appointed by the National Company Law Tribunal (hereinafter referred to as ‘NCLT’) in terms of Section 16 of the Insolvency and Bankruptcy Code, 2016 (hereinafter Signature Not Verified Digitally Signed By:NAVEEN KUMAR W.P.(C) 1554/2026 Page 1 of 4 Signing Date:18.02.2026 14:49:45 referred to as ‘the Code of 2016’) and the petitioner-company was admitted into insolvency. 3. It is further submitted that on 05.08.2024, the National Company Law Appellate Tribunal, Principal Bench, New Delhi (hereinafter referred to as ‘NCLAT’) passed a stay order, according to which, though the appointment of IRP continued but the period for completion of Corporate Insolvency Resolution Process (hereinafter refer