ELENTEC INDIA PRIVATE LIMITED,NEW DELHI V. DCIT, CIRCLE-7(1), NEW DELHI

SA 583/DEL/2025

AI Insights

Elentec India Pvt. Ltd. filed a stay application seeking an extension of the stay on the recovery of demand for the Assessment Year 2020-21. The Tribunal had previously granted a stay requiring the assessee to pay 20% of the outstanding demand, which included depositing Rs. 2 crores in two installments and providing a bank guarantee for Rs. 3 crores. The stay was initially granted on 06.09.2024, and an extension was granted on 16.05.2025. However, the bank guarantee had expired by the time of the current application. The Tribunal noted the expiration of the bank guarantee and the pending appeal, which was scheduled for a hearing on 27.01.2026.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 788088 (ITAT-DELHI)
• Duration Of Justice: 9 day(s)
• Appeal Type: Stay Application
• Pronouncement Date: 28-11-2025
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: I
• Assessment Year: misc
• Appeal Filed On: 19-11-2025
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VIKRAM SINGH SHARMA
• Assessee Lawyers: PRASHANT MEHARCHANDANI
• Keywords: Application of stay; Extension of stay

Judgement Text

"Page | 1 INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “I”: NEW DELHI BEFORE SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR U.S., JUDICIAL MEMBER SA 583/Del/2025 (In ITA No. 3841/Del/2024) (Assessment Year: 2020-21) Elentec India Pvt. Ltd, B-15/31, LGF, Vasant Vihar, New Delhi Vs. DCIT, Circle-7(1), New Delhi (Appellant) (Respondent) PAN: AADCR2107F Assessee by : Shri Prashant Meharchandani, Adv Revenue by: Shri Vikram Singh Sharma, Sr. DR Date of Hearing 28/11/2025 Date of pronouncement 28/11/2025 O R D E R PER M. BALAGANESH, A. M.: 1. By virtue of this stay application, the assessee seeks extension of stay of recovery of demand raised by the revenue for AY 2020-21. 2. In this case, the first stay was granted vide order dated 06.09.2024 directing the assessee to pay 20% of the outstanding demand in the following manner:- a. Rs. 2 crores to be deposited in 2 installments which stood complied with by the assessee; b. Bank guarantee to be given for Rs. 3 crores, which stood complied by the assessee. Printed from counselvise.com SA 583/Del/2025 Elentec India Pvt. Ltd Page | 2 3. But the ld DR before us drew our attention to page 76 of the stay application set containing the issuance of bank guarantee wherein, the bank guarantee had already expired on 25.09.2025. In the meanwhile, the assessee had on earlier occasion sought to extension of stay and the same was duly granted by this Tribunal vide order dated 16.05.2025 wherein, there is a direction given to the ld AO to refund the excess amount recovered from the assessee in the sum of Rs. 7,15,38,970/- over and above the amount is directed by the Tribunal in its stay order dated 06.09.2024. The ld AR before us stated that he had no instruction qua the issuance of any refund of the aforesaid sum to the assessee. The ld AR also drew our attention that the appeal could not be heard as the revenue had sought adjournment on earlier occasion. Now the main appeal is listed for hearing on 27.01.2026. 4. Since, the bank guarantee given by the assessee had expired, the stay of demand is hereby granted subject to assessee renewing the bank guarantee further for a period of 1 year on or before 10.12.2025. We make it very clear that the said renewed bank guarantee shall stand cancelled if the appeal of the assessee is disposed of within the tenure of bank guarantee. The stay petition of the assessee is disposed of in the above mentioned terms. Order pronounced in the open court on 28/11/2025. -Sd/- -Sd/- (YOGESH KUMAR U.S.) (M. BALAGANESH) JUDICIAL MEMBER ACCOUNTANT MEMBER Dated:28/11/2025 A K Keot Copy forwarded to Printed from counselvise.com SA 583/Del/2025 Elentec India Pvt. Ltd Page | 3 1. Applicant 2. Respondent 3. CIT 4. CIT (A) 5. DR:ITAT ASSISTANT REGISTRAR ITAT, New Delhi Printed from counselvise.com "