Appeal Details
Counselvise Citation
[2025] 140 COUNSELVISE.COM (IT) 705268 (ITAT-DELHI)
Assessee PAN
Bench
Appeal Number
Appellant
Respondent
Appeal Type
Stay Application
Pronouncement Date
04-07-2025
Appeal Filed By
Assessee
Order Result
Allowed
Assessment Year
2012-2013
Judgement Text
"S.A. No. 35/Del/2025 (In ITA No.7655.Del/2017) Corteva Agriscience Seeds Vs. DCIT IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘I’, NEW DELHI BEFORE SH. RAMIT KOCHAR, ACCOUNTANT MEMBER & Sh. SUDHIR KUMAR, JUDICIAL MEMBER Stay Application No.35/DEL/2025 (ITA No.7655/Del/2017) Assessment Year: 2012-13 Corteva Agriscience Seeds Pvt. Ltd. Hyderabad PAN No.AACCP3920F Vs DCIT Circle – 19 (2) New Delhi (APPELLANT) (RESPONDENT) Appellant by Sh. Aditya Vohra, Advocate Sh. Arpit Goel, AR Respondent by Sh. Vikram Singh Sharma, Sr. DR Date of hearing: 04/07/2025 Date of Pronouncement: 04/07/2025 ORDER PER SUDHIR KUMAR, JM: By way of this stay application the assessee has requested for extension of stay of outstanding interest demand u/s. 220(2) of the Act for Rs.12,07,35,972/-. 2. The Ld. AR submitted that the assessee filed its return of income on 30.11.2012 for the A.Y. 2012-13 declaring total income of Rs.242531318/-. The AO assessed the income of S.A. 35/Del/2025 Corteva Agriscience Seeds Pvt. Ltd. 2 Rs.1283221949/-. The Ld. AR of the assessee submitted that the AO issued outstanding demand notice for Rs.45,91,57,612/- which was adjusted by the department. The AO, further recovered an amount of Rs.1,90,93,920/- by adjusting refund for A.Y.2022-23. This amount has now been refunded by department. The assessee filed the stay application before the Assessing Officer on 05.04.2016 but the Assessing Officer recovered the amount of Rs.98,85,00,196/- by way of demand draft from the standard chartered bank of the assessee against total demand of Rs.178.67 crores for A.Y. 2012-13, 2013-14, 2014-15 and 2016-17. Against which assessee filed the writ petition before the Hon’ble Delhi High Court but before passing the order the payment of draft has been received to the Revenue. After that the assessee moved an stay application before the Tribunal that the excess amount has been recovered by the revenue from the assessee. The Tribunal vide order dated 23.01.2024 denying refund of tax collected in excess of 20% of outstanding demand granted 100% stay on the balance of the outstanding demand existing as on 19.01.2024 on the ground that considerable amount of tax has already been collected by the revenue. The order was extended by the Stay Application 279/Del/2024 on 26.07.2024. The appeal was listed for hearing on 23.09.2024 alongwith the appeal of other A.Y.s 2011-12 and 2016-17. The other appeals for A.Y. 2013-14 and 2015-16 were heard because the similar issues were involved in these appeals and the order is still awaited and the corresponding appeal was adjourned by the Bench. S.A. 35/Del/2025 Corteva Agriscience Seeds Pvt. Ltd. 3 3. We have heard the rival submissions and perused the material available on record. Considering the facts of the present case and further that the corresponding appeal is fixed for hearing before the Bench, so the stay application filed by the assessee for the stay of the outstanding demand for A.Y. 2012- 13 is allowed and stay is extended for the further period of 180 days or till the disposal of the appeal whichever is earlier. 4. In the result, the stay application is allowed. Order pronounced in the open court on 04.07.2025. Sd/- Sd/- (RAMIT KOCHAR) (SUDHIR KUMAR) ACCOUNTANT MEMBER JUDICIAL MEMBER *NEHA* Date:- 07.07.2025 Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI "
