CORTEVA AGRISCIENCE INDIA PRIVATE LIMITED,TELANGANA V. DCIT, CIRCLE-4(2), DELHI

SA 503/DEL/2024

AI Insights

The case involves Corteva Agriscience India Pvt Ltd, which filed a stay petition against an assessment order demanding Rs. 51,58,57,480 for the Assessment Year 2021-22. The petition was heard by the Income Tax Appellate Tribunal, Delhi, where the assessee argued that they had a good prima facie case and requested a stay on the recovery proceedings. The Department contended that an absolute stay should not be granted and suggested that the assessee should deposit some tax if the stay was granted. After considering the submissions, the Tribunal found merit in the assessee's request and granted the stay.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 312116 (ITAT-DELHI)
• Appeal Type: Stay Application
• Pronouncement Date: 02-05-2025
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: I
• Assessment Year: 2021-2022
• Laws Referred To: Income-tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: HARPREET KAUR HANSRA
• Assessee Lawyers: HARPREET SINGH AJMANI
• Keywords: Recovery proceedings; Application of stay
• Section: 143(3); 2

Judgement Text

"IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘I’ BENCH, NEW DELHI BEFORE SHRI CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER, AND SHRI NAVEEN CHANDRA, ACCOUNTANT MEMBER SA No. 503/DEL/2024 [A/o ITA No. 5527/DEL/2024 [A.Y 2021-22) Corteva Agriscience India Pvt Ltd Vs. NFAC, Assessment Unit Plot No. 17, 12th Floor DCIT, Circle -4(2) V Ascendas ATR IA Block New Delhi Software Units Layout Madhapur, Madhapur, B.O. Hyderabad, Telangana PAN: AAACE 2462 M (Applicant) (Respondent) Assessee By : Shri Harpreet Singh Ajmani, Adv Ms. AShmita Sharma, ADv Department By : Ms. Harpreet Kaur Hansra, Sr. DR Date of Hearing : 02.05.2025 Date of Pronouncement : 02.05.2025 ORDER PER NAVEEN CHANDRA, ACCOUNTANT MEMBER:- This Stay Petition by the assessee is directed towards the order dated 29.10.2024 framed u/s 143(3) r.w.s 144C(13) r.w.s 144B of the 2 SA No. 503/DEL/2024 Corteva Agriscience [A.Y 2020-21] Income-tax Act, 1961 [hereinafter referred to as 'The Act'] for Assessment Year 2021-22. As a result of the assessment order demand of Rs. 51,58,57,480/- was made for Assessment Year 2021-22. 2. In this stay petition, the ld. AR submitted that the assessee has a good prima facie case on merits and it is an admitted fact that the appeal is pending before the Tribunal. The ld. counsel for the assessee therefore, prayed that the Assessing Officer be directed not to initiate recovery proceedings against the assessee. 3. On the other hand, the ld. Sr. DR has contested this application and has further stated that absolute stay should not be granted and the assessee must be directed to deposit some tax in case stay is granted. 4. After considering the rival submissions and going through the stay application, we are of the considered opinion that a prima-facie case for grant of stay is made out in favour of the applicant. The balance of convenience is also in its favour. Having regard to the facts and circumstances of the case, and in the interest of justice and fair play we order stay of the 3 SA No. 503/DEL/2024 Corteva Agriscience [A.Y 2020-21] outstanding demand. Accordingly, we grant stay of the outstanding tax demand from today, i.e. the date of hearing 02.05.2025 for a period of 180 days or till the disposal of the appeal, whichever is earlier. 5. In the meanwhile, the Revenue is restrained from taking coercive steps for realization of the outstanding demand. 6. In the result, the Stay Application of the assessee in SA No. 503/DEL/2024 is disposed of as indicated above The order is pronounced in the open court on 02.05.2025. Sd/- Sd/- [CHALLA NAGENDRA PRASAD] [NAVEEN CHANDRA] JUDICIAL MEMBER ACCOUNTANT MEMBER Dated: 02nd MAY, 2025. VL/ Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(A) 5. DR Asst. Registrar, 4 SA No. 503/DEL/2024 Corteva Agriscience [A.Y 2020-21] ITAT, New Delhi Sl No. PARTICULARS DATES 1. Date of dictation of Tribunal Order . 2. Date on which the typed draft Tribunal Order is placed before the Dictation Member 3. Date on which the typed draft Tribunal Order is placed before the other Member 4. Date on which the approved draft Tribunal Order comes to the Sr. P.S./P.S. 5. Date on which the fair Tribunal Order is placed before the Dictating Member for pronouncement 6. Date on which the signed order comes back to the Sr. P.S./P.S 7. Date on which the final Tribunal Order is uploaded by the Sr. P.S./P.S. on official website 8. Date on which the file goes to the Bench Clerk alongwith Tribunal Order 9. Date of killing off the disposed of files on the judiSIS portal of ITAT by the Bench Clerks 10. Date on which the file goes to the Supervisor (Judicial) 11. The date on which the file goes for xerox 12. The date on which the file goes for endorsement 13. The date on which the file goes to the Superintendent for checking 14. The date on which the file goes to the Assistant Registrar for signature on the Tribunal order 15. Date on which the file goes to the dispatch section 16. Date of Dispatch of the Order "