AJEET SEEDS PVT. LTD.,AURANGABAD V. ACIT, CENTRAL CIRCLE-1, AURANGABAD

SA 21/PUN/2025

AI Insights

Ajeet Seeds Private Limited filed a Stay Application with the Income Tax Appellate Tribunal Pune Bench, seeking a stay on the realization of an outstanding demand of Rs.3,94,98,290/-. This demand arose from an assessment where the Assessing Officer added Rs.19,12,39,991/- to the declared income of Rs.100,34,56,780/- due to disallowance of a weighted deduction under section 35(2AB) of the Income Tax Act, 1961. The assessee had already paid more than 64% of the total tax and interest demanded. The Tribunal considered the substantial payment made by the assessee and the threat of coercive measures by the Assessing Officer, leading to the decision to grant the stay.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 792142 (ITAT-PUNE)
• Duration Of Justice: 5 day(s)
• Appeal Type: Stay Application
• Pronouncement Date: 09-12-2025
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2016-2017
• Appeal Filed On: 04-12-2025
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAJESH GAWALI
• Assessee Lawyers: PRAMOD S SHINGTE
• Keywords: Application of stay
• Section: 2

Judgement Text

"IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI R. K. PANDA, VICE PRESIDENT AND Ms. ASTHA CHANDRA, JUDICIAL MEMBER SA No.21/PUN/2025 Arising out of IT(SS)A No.19/PUN/2025 Assessment year : 2016-17 Ajeet Seeds Private Limited Gut No.233, Chitegaon, Paithan Road, Aurangabad (Chh. Sambhajinagar) – 431105 Vs. ACIT, Central Circle-1, Aurangabad PAN: AACCA3455G (Applicant) (Respondent) Assessee by : Shri Pramod S Shingte Department by : Shri Rajesh Gawali, Addl.CIT Date of hearing : 09-12-2025 Date of pronouncement : 09-12-2025 O R D E R PER R. K. PANDA, VP : The assessee through this Stay Application requests the Tribunal to stay on the realization of the outstanding demand of Rs.3,94,98,290/-. 2. The Ld. Counsel for the assessee referring to the contents of the Stay Application submitted that as against the income declared at Rs.100,34,56,780/-, the Assessing Officer completed the assessment determining the total income of the assessee at Rs.119,46,96,771/- by making addition of Rs.19,12,39,991/- towards disallowance of weighted deduction u/s 35(2AB) of the Income Tax Act, 1961. He submitted that as against the total tax of Rs.6,60,22,094/- the assessee Printed from counselvise.com 2 SA No.21/PUN/2025 has paid full amount i.e. 100% of the tax. Similarly out of interest amount of Rs.4,38,43,876/- levied by the Assessing Officer the assessee has already paid Rs.43,45,586/-. Thus, out of total demand of Rs.10,98,65,970/- (being the total tax and interest), the assessee has already paid an amount of Rs.7,03,67,680/- which is more than 64% of the total tax and interest. He submitted that the Assessing Officer has threatened to attach the bank accounts unless the balance amount is paid before 10th December, 2025. He submitted that the assessee has a prima facie case in its favour, therefore, the balance amount should be stayed till the disposal of the appeal which is fixed for hearing on 28.01.2026. 3. The Ld. DR on the other hand while objecting to the Stay Application filed by the assessee submitted that the assessee should be directed to pay the balance amount at the earliest. 4. We have heard the rival contentions made by both the sides and perused the record. A perusal of the details furnished by the assessee shows that out of the total tax demand of Rs.10,98,65,970/- (including tax and interest), the assessee has already made the payment of Rs.7,03,67,680/- which is more than 64% of the total tax demand including the interest. Therefore, we find some force in the arguments of the Ld. Counsel for the assessee that the balance amount should be stayed till the disposal of the appeal. We, therefore, stay on the realization of the outstanding demand of Rs.3,94,98,290/- for a period of six months from today or till the disposal of the appeal whichever is earlier. The Assessing Officer is directed not Printed from counselvise.com 3 SA No.21/PUN/2025 to take any coercive measures against the assessee. It is pertinent to mention here that the appeal has already been fixed for hearing on 28.01.2026. The assessee is also directed not to seek any adjournment under any pretext on the date of hearing. The Stay Application is accordingly allowed. 5. In the result, the Stay Application filed by the assessee is allowed. Order pronounced in the open Court on 9th December, 2025. Sd/- Sd/- (ASTHA CHANDRA) (R. K. PANDA) JUDICIAL MEMBER VICE PRESIDENT पुणे Pune; दिन ांक Dated : 9th December, 2025 GCVSR आदेश की प्रतितिति अग्रेतिि/Copy of the Order is forwarded to: 1. अपील र्थी / The Appellant; 2. प्रत्यर्थी / The Respondent 3. 4. The concerned Pr.CIT, Pune DR, ITAT, ‘A’ Bench, Pune 5. ग र्ड फ ईल / Guard file. आदेशानुसार/ BY ORDER, // True Copy // Assistant Registrar आयकर अपीलीय अदिकरण ,पुणे / ITAT, Pune Printed from counselvise.com 4 SA No.21/PUN/2025 S.No. Details Date Initials Designation 1 Draft dictated on 09.12.2025 Sr. PS/PS 2 Draft placed before author 09.12.2025 Sr. PS/PS 3 Draft proposed & placed before the Second Member JM/AM 4 Draft discussed/approved by Second Member AM/AM 5 Approved Draft comes to the Sr. PS/PS Sr. PS/PS 6 Kept for pronouncement on Sr. PS/PS 7 Date of uploading of Order Sr. PS/PS 8 File sent to Bench Clerk Sr. PS/PS 9 Date on which the file goes to the Head Clerk 10 Date on which file goes to the A.R. 11 Date of Dispatch of order Printed from counselvise.com "