J.P. MORGAN INDIA P.LTD,MUMBAI V. DCIT RG 4(3)(1), MUMBAI

SA 172/MUM/2025

AI Insights

The case involves J.P. Morgan India P. Ltd. seeking an extension of stay on the recovery of an outstanding demand related to the Assessment Year 2010-11. The Tribunal had previously granted a conditional stay, which was extended multiple times. The latest extension was requested due to delays in the hearing of the corresponding appeal, which was adjourned at the department's request. The Tribunal noted that the appeal was scheduled for a hearing on 12.01.2026 and found no change in circumstances that would affect the continuation of the stay.

• Counselvise Citation: [2026] 140 COUNSELVISE.COM (IT) 826211 (ITAT-MUMBAI)
• Duration Of Justice: 16 day(s)
• Appeal Type: Stay Application
• Pronouncement Date: 09-01-2026
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: K
• Assessment Year: 2010-2011
• Appeal Filed On: 24-12-2025
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ANNAVARAN KOSURI
• Keywords: Application of stay; Extension of stay
• Section: 2

Judgement Text

" IN THE INCOME TAX APPELLATE TRIBUNAL “K” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, VP AND SHRI PRABHASH SHANKAR, AM SA No. 172/Mum/2025 (Arising out of ITA No. 1075/Mum/2015) (Assessment Year: 2010-11) J . P. Morgan India P. Ltd. J. P. Morgan Tower Off. CST Road, Kalina, Santacruz (E), Mumbai-400 098 Vs. Dy. CIT, Range-4(3)(1) Pratishtha Bhavan, 3rd & 4th Floors, 101, M. K. Road, Mumbai-400 020 PAN/GIR No. AAACJ 1022 G (Applicant) : (Respondent) Applicant by : Shri Madhur Agarwal Respondent by : Shri Annavaran Kosuri, Sr. AR Date of Hearing : 09.01.2026 Date of Pronouncement : 09.01.2026 O R D E R The captioned application has been filed by the assessee/applicant seeking extension of stay on recovery of outstanding demand, pertaining to the Assessment Year (A.Y.) 2010- 11. 2. We have heard the parties and perused the materials available on record. It is observed, while considering the initial stay application filed by the assessee, the Tribunal in order dated 27.02.2015 had granted conditional stay. Thereafter, stay has been extended from time to time and the last order extending stay was passed on 04.07.2023. Perusal of record further reveals that though the corresponding appeal came up for hearing on earlier occasions, hearing could not proceed as the department sought adjournment. Now the Printed from counselvise.com 2 SA No. 172/Mum/2025 (A.Y.2010-11) J. P. Morgan India P. Ltd. vs. Dy. CIT appeal is fixed for hearing on 12.01.2026. There being no change in the facts and circumstances, based on which the stay was earlier granted to the assessee and was extended from time to time, we are inclined to extend the stay for a further period of 180 days from the date of this order or till the disposal of the corresponding appeal, whichever is earlier. 3. In the result, stay application is allowed. Order pronounced in the open court on 09.01.2025. Sd/- Sd/- (Prabhash Shankar) (Saktijit Dey) Accountant Member Vice President Mumbai; Dated : 09.01.2025 Roshani, Sr. PS Copy of the Order forwarded to : 1. The Appellant 2. The Respondent 3. CIT - concerned 4. DR, ITAT, Mumbai 5. Guard File BY ORDER, (Dy./Asstt. Registrar) ITAT, Mumbai Printed from counselvise.com "