Genpact India Pvt Ltd , Gurugram V. ACIT, TP 2(1) , New Delhi

MA 40/DEL/2023

• Counselvise Citation: [2024] 100 COUNSELVISE.COM (IT) 0738 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 6 month(s) 6 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 25-07-2024
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: I
• Next Hearing Date: 23-07-2024
• Assessment Year: 2018-2019
• Appeal Filed On: 19-01-2023
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Application of stay

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “I” BENCH: NEW DELHI BEFORE SHRI G.S.PANNU, VICE PRESIDENT & SHRI KUL BHARAT, JUDICIAL MEMBER M.A.Nos.-39 & 40/Del/2023 [In S.A.Nos.346 & 347/Del/2022] [In ITA Nos. 2442 & 2443/Del/2022] [Assessment Years : 2017-18 & 2018-19] Genpact India Pvt.Ltd., DLF City, Phase-V, Sector-53, Gold Course Road, Gurgaon, Haryana-122002. PAN-AABCE4461B vs ACIT, OSD, Delhi. APPELLANT RESPONDENT Appellant by Shri Sachit Jolly, Adv. Shri Soham Dua, Adv, & Ms. Soumya Singh, Adv. Respondent by Shri Sunil Kumar Yadav, Sr.DR & Shri Kanv Bali, Sr.DR Date of Hearing 24.07.2024 Date of Pronouncement 26.07.2024 ORDER PER KUL BHARAT, JM : Both Miscellaneous Applications (M.As.) have been filed by the assessee seeking recalling of the order dated 23.12.2022 passed by the Tribunal in S.A Nos.346 & 347/Del/2022 pertaining to Assessment Years [AYs] 2017-18 & 2018-19. 2. Ld. Counsel for the assessee reiterated the submissions as made in the M.As and submitted that an inadvertent mistake has crept in the order dated 23.12.2022 passed by the Tribunal which needs to be rectified. 3. Ld. Sr. DR opposed these submissions and submitted that there is no mistake apparent from the record. 4. We have heard Ld. Authorized Representatives of the parties and perused the material available on record. We find merit into the contention of the Ld. 2 | Page Counsel for the assessee that an inadvertent mistake has crept in the order dated 23.12.2022 passed by the Tribunal. M.A.No.-39/Del/2023 [In S.A.No.346/Del/2022] 5. Ld. Counsel for the assessee submitted that the Tribunal inadvertently did not give set off of the adjusted refund for AY 2003-04 amounting to Rs.2,71,43,780/-. Thereby, this amount has become enhanced for the purpose of differential amount related to bank guarantee. It was further submitted that the order dated 23.12.2022 in S.A.No.346/Del/2022 in ITA No.2442/Del/2022 for AY 2017-18 may be rectified indicating that the refund amounting to Rs.2,71,43,780/- for AY 2003-04 has been adjusted against the tax demand for AY 2017-18. Consequently, the amount of bank guarantee to be furnished for the differential amount of 20% of the disputed tax demand and total refund for AYs 2003-04, 2012-13, 2014-15, 2015-16, 2020-21 and 2021-22 adjusted against the disputed tax demand for AY 2017-18 amounting to Rs.66,56,50,329/-. 6. On the other hand, Ld. Sr. DR opposed these submissions. 7. We have heard Ld. Authorized Representatives of the parties and perused the material available on record. We find merit into the contention of the assessee. Therefore, we modify our order dated 23.12.2022 and para 6 of the order dated 23.12.2022 may be read as under:- 6. “We have heard the Ld. Authorized representatives of the parties and perused the material available on record. We find that the assessee has a prima facie good case in its favour and there is likelihood of success, we therefore, stay the disputed tax demand of Rs.3,16,23,55,864/- for AY 2017-18 on the following conditions:- 3 | Page (a) the assessee would furnish the bank guarantee on or before 31.01.2023 of the differential amount i.e. 20% of disputed tax demand and the total refund adjusted for AYs 2003-04, 2012- 13, 2013-14, 2015-16, 2020-21, 2021-22, amounting to Rs.66,56,50,329/. The assessee is directed to furnish the remaining balance out of 20% of the disputed demand in the form of bank guarantee by 31.01.2023. Upon furnishing of such bank guarantee, the disputed tax demand would remain stayed for a period of six months or till the disposal of the appeal, whichever is earlier. (b) the assessee would not seek any adjournment without any reasonable cause. Registry is directed to fix the hearing of appeal i.e. ITA No.2442/Del/2022 on 22.02.2023 out of turn basis.” 8. Therefore, M.A. No. 39/Del/2023 in S.A.No.346/Del/2022 [AY 2017-18] filed by the assessee is allowed. M.A.No.-40/Del/2023 [In S.A.No.347/Del/2022] 9. Ld. Counsel for the assessee submitted that in this year also, adjustment for refund of the AY 2004-05 of Rs.7,09,82,950/- made against the disputed tax demand for AY 2018-19 was inadvertently left out to be noted by the Tribunal. It was prayed that the order may be rectified. 10. On the other hand, Ld.Sr. DR opposed these submissions. 11. We have heard Ld. Authorized Representatives of the parties and perused the material available on record. We find merit into the contention of the assessee. Therefore, we modify our order dated 23.12.2022 and para 10 of the order dated 23.12.2022 may be read as under:- 4 | Page 10. “Considering the material placed before us and the facts and the issue are identical in both stay applications. The assessee has a good prima facie case, we therefore, for the same reasoning, stay the disputed tax demand subject to the conditions i.e. the assessee would furnish bank guarantee of the differential amount of 20% of the disputed demand and total refund for AYs 2004-05, 2015-16, 2020-21 and 2021-22 adjusted against the disputed demand for AY 2018-19. Upon furnishing of such guarantee, the disputed tax demand would be remained stayed for a period of 180 days or till the disposal of the appeal, whichever is earlier. The requests of the assessee for taking up the corresponding appeal on out of turn basis is also allowed and the Registry is directed to fix the hearing of the appeal i.e. ITA No.2443/Del/2022 [AY 2018-19] on 22.02.2023 out of turn basis. Thus, stay application filed by the assessee are allowed.” 12. Therefore, M.A. No. 40/Del/2023 in S.A.No.347/Del/2022 [AY 2018-19] filed by the assessee is allowed. 13. In the final result, M.A. Nos. 39 & 40/Del/2023 in S.A.Nos.346 & 347/Del/2022 [AYs 2017-18 & 2018-19] filed by the assessee are allowed. Order pronounced in the open Court on 26 th July, 2024. Sd/- Sd/- (G.S.PANNU) (KUL BHARAT) VICE PRESIDENT JUDICIAL MEMBER * Amit Kumar * Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT, NEW DELHI