JAK PROMOTERS PVT LTD., CHENNAI V. ITO SALARY WARD 1(20, CHENNAI

MA 70/CHNY/2019

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 9257 (ITAT-CHENNAI)
• Duration Of Justice: 6 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 01-04-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2010-2011
• Appeal Filed On: 26-03-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: R CLEMENT RAMESH KUMAR
• Assessee Lawyers: J PRABAKAR

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL , D BENCH, CHENNAI , . , BEFORE SHRI GEORGE MATHAN , JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY , ACCOUNTANT MEMBER MISCELLANEOUS PETITION NO. 70 / CHNY/201 9 IN STAY PETITION NO. 390/CHNY/2018 ( IN ITA NO.33 3 6/CHNY/2018, ASSESSMENT YEAR 2010 - 11) M/S. JAK PROMOTERS PVT. LTD., NO.215, MTH ROAD, AVADI, CHENNAI 600 054. V. THE INCOME TAX OFFICER, SALARY WARD 1(2), CHENNAI PAN: AADCJ2917M ( / APPLICANT) ( / RESPONDENT ) / APPLICANT BY : SHRI J. PRABAKAR, CA /RESPONDENT BY : SHRI R.CLEMENT RAMESH KUMAR, ADDL.CIT / DATE OF HEARING : 29.03 .201 9 / DATE OF PRONOUNCEMENT : 01.04 .201 9 / O R D E R PER A. MOHAN ALANKAMONY, AM: - TH IS MISCELLANEOUS PETITION IS FILED BY THE ASSESSEE PRAYING FOR RECALLING & RECTIFYING THE MISTAKE APPARENT IN THE STAY ORDER OF THE TRIBUNAL IN S.P.NO.390/CHNY/2018 FOR THE ASSESSMENT YEAR 2010 - 11. 2. THE LD.AR SUBMITTED BEFORE US THAT IN THE STAY ORDER OF THE TRIBUNAL DATED 28.12.2008, IT WAS WRONGLY OBSERVED THAT THE ASSESSEE HAD NOT ESTABLISHED FINANCIAL HARDSHIP FOR THE PAYMENT OF THE OUTSTANDING DEMAND , BASED ON WHICH THE TRIBUNAL HAD GRANTED THE 2 MP NO . 70 /CHNY / 201 9 ASSESSEE ONLY CONDITIONAL STAY FOR RECOVERING THE OUTSTANDING DEMAND BY DIRECTING THE ASSESSEE TO PAY INSTALLMENTS OF RS.25 LAKHS ON OR BEFORE 15 TH OF EVERY MONTH STARTING FROM THE MONTH OF J ANUARY, 2019. HOWEVER THE ACTUAL FINANCIAL POSITION OF THE ASSESSEE WAS VERY FRAGILE BECAUSE THE BANK BALANCE WAS ONLY RS.58,408/ - . HENCE IT WAS PLEADED THAT THERE IS A MISTAKE IN THE ORDER OF THE TRIBUNAL FOR OBSERVING THE FINANCIAL POSITION OF THE ASSES SEE COMPANY TO BE SOUND . IT WAS FURTHER PLEADED THAT THE ORDER OF THE TRIBUNAL MAY BE AMENDED BY GRANTING ABSOLUTE STAY WITHOUT THE CONDITION STATED IN THE EARLIER STAY ORDER OF THE TRIBUNAL DATED 28.12.2018. THE LD.D.R ON THE OTHER HAND STRONGLY OPPOSED T O THE SUBMISSION OF THE LD.AR . 3 . AFTER HEARING BOTH THE SIDES, WE DO NOT FIND ANY MERIT IN THE ARGUMENTS ADVANCED BY THE LD.AR. THE TRIBUNAL HAD OBSERVED IN ITS ORDER THAT THE ASSESSEE HAD EARNED REVENUE OF RS.5,11,74,795 / - AGAINST WHICH NO EXPENDITURE WAS INCURRED. THE ASSESSEE HAS ALSO NOT EXPLAINED AS TO HOW THE FUNDS ARE BLOCKED DUE TO WHICH IT IS NOT ABLE TO MEET OUT THE OUTSTANDING DEMAND OF THE REVENUE. IN THESE CIRCUMSTANCES WE DO NOT FIND ANY MISTAKE IN THE STAY O RDER OF THE TRIBUNAL DATED 28.12.2018. MOREOVER WE FIND THAT TILL DATE, THE ASSESSEE HAS NOT PAID ANY INSTALLMENT WITH RESPECT TO THE OUTSTANDING DEMAND OF THE REVENUE. THEREFORE WE HEREBY DISMISS THE 3 MP NO . 70 /CHNY / 201 9 MISCELLANEOUS PETITION FILED BY THE ASSESSEE AGAINST TH E STAY ORDER DATED 28.12.2018 IN SP NO.390/CHNY/2018 FOR THE ASSESSMENT YEAR 2010 - 11. 4 . IN THE RESULT, THE MISCELLANEOUS PE TITION FILED BY THE ASSESSEE IS DISMISSED. O RDER PRONOUNCED ON THE 1 ST APRIL , 2019 AT CHENNAI . SD/ - SD/ - ( ) ( GEORGE MATHAN ) / JUDICIAL MEMBER ( . ) (A. MOHAN ALANKAMONY) / ACCOUNTANT MEMBER / CHENNAI, / DATED 1 ST APRIL , 2019 RSR . / COPY TO: 1. / APPLICANT 2. / RESPONDENT 3. ( ) / CIT(A) 4. / CIT 5. / DR 6. / GF.