NIKON INDIA PRIVATE LIMITED,GURUGRAM V. ACIT, CIRCLE 3(1), GURGAON, GURUGRAM

SA 70/DEL/2025

AI Insights

The case involves Nikon India Private Limited, which filed a Stay Application (SA No.70/Del/2025) seeking an extension of stay on an outstanding demand of income tax and interest for the Assessment Year 2020-21. This demand arose from a previous ITA No.3667/Del/2024. The Tribunal had initially granted a stay on the demand, adjusting 20% of the outstanding demand against the assessee's refund for AY 2019-19, and staying the recovery of the balance for 180 days or until the disposal of the appeal. The Tribunal, after hearing the submissions from both the assessee and the Departmental Representative, decided to extend the stay under the same conditions as previously granted.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 26193 (ITAT-DELHI)
• Appeal Type: Stay Application
• Pronouncement Date: 14-02-2025
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: H
• Assessment Year: 2020-2021
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SANJAY KUMAR
• Assessee Lawyers: ANKIT SAHANI
• Keywords: Application of stay; Extension of stay

Judgement Text

" IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘I’ NEW DELHI BEFORESHRI MAHAVIR SINGH, VICE-PRESIDENT AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER S.A.No.70/Del/2025 [Arising out of ITA No.3667/Del/2024] Assessment Year:2020-21 Nikon India Private Limited Plot No. 71, Sector-32 Institutional Area. Gurugram-122001 PAN AACCN5100F v. DCIT, Circle 3(1) , Gurugram- 122001 Haryana (Appellant) (Respondent) ORDER PER RAMIT KOCHAR, AM: TheStay Application in SA No.70/Del/2025 for Assessment Year 2020-21 filed by the assesseehas arisen out of ITA No.3667/Del/2024. In the Stay Application, the assessee isseeking forextension of stay of outstanding demand of income- tax and interest thereof of Rs.5,39,63,634/-. The Ld. Counsel for the assessee at the outset submitted that the assesseehas been granted stay by ITAT, Delhi Bench, Delhi vide order in SA No. Assessee by Sh. Ankit Sahani, Advocate Department by Shri Sanjay Kumar, Sr. DR Date of hearing 14.02.2025 Date of pronouncement 14.02.2025 S.A.No.70/Del/2025 Arising out of ITA No. 3667/Del/2024 2 | P a g e 317/Del/2024 arising out of ITA no. 3667/Del/2024 for assessment year 2020-21 , order dated 23.08.2024. The ITAT, Delhi Bench observed as under while granting aforesaid stay of demand: “4. Both sides heard. In the light of the fact that the assessee has substantial refund from the department as per the order dated 29.07.2024 for AY 2018-19, the department is directed to adjust from refund of AY 2019-19 an amount equal to 20% of the outstanding demand for the impugned assessment year. The recovery of balance outstanding demand for AY 2020-11 is stayed for a period of 180 days from the date of this order or till the disposal of appeal, whichever is earlier. 5 &6.***” It was submitted by the learned counsel for the assessee that the assesseecomplied with the terms of stay of demand granted earlier vide order dated 24.08.2024. It was also submitted that the assesseedid not sought any adjournment when its Appeal in ITA No. 3667/Del/2024 came for hearing before DB, since the stay was granted by ITAT vide order dated 23.08.2024. It was submitted that next date of hearing of its appeal before ITAT, Delhi Bench “I”, Delhi is on 13.03.2025. It was submitted that the stay is now expiring, and prayers were made to extend the stay of outstanding demand on similar conditions for a further period of 180 days or till the disposal of the appeal which ever is earlier. 2. The ld. Sr. DR has no serious objection if the stay is extended. S.A.No.70/Del/2025 Arising out of ITA No. 3667/Del/2024 3 | P a g e 3. After hearing both the parties, we extend the stay of outstanding demand for a further period of 180 days or till the disposal of appeal in ITA No. 3667/Del/2024, whichever is earlier. We clarify that we have not commented on the merits of the issue. Further, that the assessee will fully co-operate in speedy disposal of the appeal by ITAT, and the assessee will not seek any un-necessary adjournments before the Tribunal in the appellate proceedings in ITA No. 3667/Del/2024. On breach of conditions, the stay shall stand vacated. The appeal of the assessee in ITA no. 3667/Del/2024 for assessment year 2020-21 is now coming up for hearing before ITAT, Delhi ‘I’ Bench, New Delhi on 13.03.2025. The terms of stay were announced by Division Bench during the course of hearing of stay application in open Court. We order accordingly. 4. In the result, Stay Application filed by the assessee is allowed in the manner as indicated above. Order pronounced in the open courton14th February, 2025. Sd/- Sd/- Sd/-S /-(MAHAVIR SINGH) (RAMIT KOCHAR) VICE PRESIDENT ACCOUNTANT MEMBER Dated:14th February, 2025. Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(A) 5. DR Asst. Registrar, ITAT, New Delhi "