JANI PROPERTIES PRIVATE LIMITED,RAIGAD V. DCIT, PANVEL, CIRCLE-PANVEL, PANVEL

SA 19/PUN/2025

AI Insights

Jani Properties Private Limited filed a Stay Application with the Income Tax Appellate Tribunal, Pune, seeking to stay the realization of an outstanding tax demand of Rs.7,09,84,310 for the assessment year 2015-16. The company, which had ceased business operations since 2017, did not file a return for the said assessment year. Subsequently, the Assessing Officer issued a notice under section 148 of the Income Tax Act, 1961, and completed the assessment, determining the total income at Rs.12,94,86,977. The company's appeal to the CIT(A)/NFAC was dismissed. The Tribunal, after considering the arguments and the absence of financial documentation from the assessee, decided not to grant a stay but accepted the request for an expedited hearing.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 779862 (ITAT-PUNE)
• Duration Of Justice: 4 day(s)
• Appeal Type: Stay Application
• Pronouncement Date: 17-10-2025
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2015-2016
• Appeal Filed On: 13-10-2025
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: AJITESH MEENA
• Assessee Lawyers: NIKHIL S PATHAK
• Keywords: Application of stay
• Section: 147; 148; 144; 2

Judgement Text

"IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI R. K. PANDA, VICE PRESIDENT AND SHRI VINAY BHAMORE, JUDICIAL MEMBER SA No.19/PUN/2025 Arising out of ITA No.2168/PUN/2025 Assessment year : 2015-16 Jani Properties Private Limited At Sherli House, Shastrinagar, Khopoli, Tal. Khalapur, Dist. Raigad – 410203 Vs. DCIT, Panvel Circle, Panvel PAN: AAACJ7356D (Applicant) (Respondent) Assessee by : Shri Nikhil S Pathak Department by : Shri Ajitesh Meena, JCIT Date of hearing : 17-10-2025 Date of pronouncement : 17-10-2025 O R D E R PER R. K. PANDA, VP : The assessee through this Stay Application requests the Tribunal to stay on the realization of the outstanding demand of Rs.7,09,84,310/-. 2. The Ld. Counsel for the assessee referring to the contents of the Stay Application submitted that the assessee is a company involved occasionally in the business of sale of agricultural land upto 2009. Thereafter since assessment year 2009-10 there was no business and it got finally closed since 2017. He submitted that for the impugned assessment year the assessee has not filed its return of income. However, the Assessing Officer issued notice u/s 148 of the I T Act, 1961 Printed from counselvise.com 2 SA No.19/PUN/2025 and completed the assessment determining the total income at Rs.12,94,86,977/- in the order passed u/s 147 r.w.s. 144 of the I T Act, 1961. In appeal the Ld. CIT(A) / NFAC dismissed the appeal of the assessee. He submitted that the assessee has no money whatsoever to pay any amount towards the outstanding demand of Rs.7,09,84,310/-. So far as the prima facie case in favour of the assessee is concerned, the Ld. Counsel for the assessee relying on number of decisions submitted that the assessee has a strong prima facie case in its favour. He accordingly submitted that full stay should be granted to the assessee. He also made a request for an out of turn hearing of the appeal. 3. The Ld. DR on the other hand submitted that the assessee has not filed its bank statement, therefore, the financial condition of the assessee is not ascertainable. He submitted that in absence of any payment by the assessee, the request of the assessee for full stay of realization of outstanding demand should be rejected. 4. We have heard the rival contentions made by both sides and perused the record. In absence of submission of the bank statement of the assessee, we are not in a position to verify the financial condition of the assessee. Therefore, it is not a fit case for grant of stay on the realization of outstanding demand. However, the request of the Ld. Counsel for the assessee that an out of turn hearing be granted is accepted and the appeal is fixed for hearing on 04.11.2025 which was announced Printed from counselvise.com 3 SA No.19/PUN/2025 in the open Court. It was also announced that no separate notice of hearing shall be sent and this order itself will be deemed to be the service of notice to both the sides for which both the parties agreed. 5. In the result, the Stay Application filed by the assessee is disposed of in the above terms. Order pronounced in the open Court at the conclusion of hearing itself i.e. on 17th October, 2025. Sd/- Sd/- (VINAY BHAMORE) (R. K. PANDA) JUDICIAL MEMBER VICE PRESIDENT पुणे Pune; दिन ांक Dated : 17th October, 2025 GCVSR आदेश की प्रतितिति अग्रेतिि/Copy of the Order is forwarded to: 1. अपीलार्थी / The Appellant; 2. प्रत्यर्थी / The Respondent 3. 4. The concerned Pr.CIT, Pune DR, ITAT, ‘A’ Bench, Pune 5. गार्ड फाईल / Guard file. आदेशानुसार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अधिकरण ,पुणे / ITAT, Pune Printed from counselvise.com 4 SA No.19/PUN/2025 S.No. Details Date Initials Designation 1 Draft dictated on 17.10.2025 Sr. PS/PS 2 Draft placed before author 17.10.2025 Sr. PS/PS 3 Draft proposed & placed before the Second Member JM/AM 4 Draft discussed/approved by Second Member AM/AM 5 Approved Draft comes to the Sr. PS/PS Sr. PS/PS 6 Kept for pronouncement on Sr. PS/PS 7 Date of uploading of Order Sr. PS/PS 8 File sent to Bench Clerk Sr. PS/PS 9 Date on which the file goes to the Head Clerk 10 Date on which file goes to the A.R. 11 Date of Dispatch of order Printed from counselvise.com "