INVECAS TECHNOLOGIES PRIVATE LIMITED,HYDERABAD V. DCIT., CIRCLE 2(1), HYDERABAD

SA 2/HYD/2025

AI Insights

The case involves M/s. Invecas Technologies Pvt. Ltd., which sought a stay against the recovery of an outstanding demand of Rs.5,71,30,700 arising from an assessment order under sections 143(3) and 144C(13) of the Income Tax Act, 1961. The assessee initially filed a stay application with the Tribunal, which was later withdrawn following a High Court order directing the tax authority to re-adjudicate the stay application. The assessee had also agreed to deposit Rs. 1.1 crore as a condition for the stay on the recovery proceedings. The Tribunal allowed the withdrawal of the stay application, dismissing it as withdrawn.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 28624 (ITAT-HYDERABAD)
• Appeal Type: Stay Application
• Pronouncement Date: 07-02-2025
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB-A
• Assessment Year: 2021-2022
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Set aside; Recovery proceedings; Application of stay
• Section: 22; 144C

Judgement Text

" आआआआ आआआआआआ आआआआआआ, आआआआआआआआ आआआ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘A’ Bench, Hyderabad BEFORE SHRI VIJAY PAL RAO, VICE PRESIDENT AND SHRI MANJUNATHA G, ACCOUNTANT MEMBER S.A. No.2/Hyd/2025 (In आ.अपी.सं /ITA No.1364/Hyd/2024) (निर्धारण वर्ा/Assessment Year:2021-22) M/s. Invecas Technologies Pvt. Ltd., Hyderabad. PAN:AADCI7344F Vs. Dy. Commissioner of Income Tax, Circle 2(1), Hyderabad. (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee by: None. रधजस् व द्वधरध/Revenue by:: Shri Srinath Sadanala, SR-DR सुिवधई की तधरीख/Date of hearing: 07/02/2025 घोर्णध की तधरीख/Pronouncement: 07/02/2025 आदेश/ORDER PER SHRI VIJAY PAL RAO : By way of this stay application, the assessee is seeking stay against recovery of outstanding demand of Rs.5,71,30,700/- arising from the assessment order passed u/s.143(3) r.w.s. 144C (13) of the Income Tax Act, 1961 (“the Act”). 2. The assessee has filed an application dated 06.02.2025 seeking withdrawal of stay application filed before the Tribunal in view of the fact that the Hon’ble jurisdictional High Court of Telangana vide order dated 27.01.2025 in W.P. No.2517 of 2025 has directed the tax authority to S.A. No.2/Hyd/2025 2 adjudicate afresh the stay application filed by assessee before the Assessing Officer. The relevant portion of the application is reproduced as under : “ We wish to humbly submit that aggrieved with the aforesaid order and the recovery proceedings initiated by the Ld. AO, a Writ Petition (WP no. 2175/2025) was filed before the Hon'ble High Court of Telangana ('HC') which was duly heard on 27 January 2025. The Hon'ble HC taking cognizance of the facts of the case has set aside the stay rejection order dated 21 January 2025 and notices dated 03 January 2025, 22 January 2025 attaching the bank account of the Assessee. The Hon'ble HC also directed the income tax department to adjudicate afresh the stay application filed by the Appellant before the Ld. AO. Copy of the directions issued by the Hon'ble Court is enclosed as Annexure 3 for your kind reference. We met the Ld. AO on 3rd February 2025 wherein and it was mutually agreed to deposit Rs. 1.1 crore as a pre- condition to grant stay on the balance demand till disposal of ITAT appeal filed for the captioned year. Accordingly, the Appellant has deposited Rs. 1.10 crore on 03 February 2025 and has communicated the same to the income tax authorities. Given the above, we wish to withdraw the captioned stay petition. We further seek liberty to approach Hon'ble ITAT in future, if need arises, basis any further order passed by the Ld. AO.” 3. The Learned Department Representative has no objection if the stay application is dismissed as withdrawn. 4. Accordingly, when the assessee has already got the relief as per the directions of the Hon’ble High Court of Telangana and deposited the sum of S.A. No.2/Hyd/2025 3 Rs.1.10 Crores then the present stay application is allowed to be withdrawn and consequently stand dismissed being withdrawn. 5. In the result, the stay application is dismissed being withdrawn. Order pronounced in the open Court on conclusion of hearing on 7th Feb., 2025. Sd/- Sd/- (MANJUNATHA G) (VIJAY PAL RAO) ACCOUNTANT MEMBER VICE PRESIDENT Hyderabad. Dated: 07.02.2025. * Reddy gp Copy of the Order forwarded to : 1. M/s.Invecas Technologies Pvt. Ltd., 10th Floor, AYDIV IT Park, Sy. No.319, 337 Partly, Puppalaguda Village, Gachibowli, K.V.Rangareddy, Serilingampally, Hyderabad. - 500 032 2. DCIT, Circle 2(1), Hyderabad. 3. Pr. CIT, Hyderabad. 4. DR, ITAT, Hyderabad. 5. Guard File. BY ORDER, "