PRACTO TECHNOLOGIES PRIVATE LIMITED,BANGALORE V. THE DEPUTY COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE 1(3), BENGALURU, BANGALORE

SA 54/BANG/2024

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The case involves Practo Technologies Pvt. Ltd., the appellant, who filed a stay petition against the recovery of an outstanding demand of Rs. 176,93,11,832 for the assessment year 2015-16. The Revenue had previously granted a stay on the condition of installment payments. The appellant also had a pending refund from the assessment year 2017-18 amounting to Rs. 7,21,14,794, which had not been processed. The appellant requested that this refund be adjusted against the installment payments for the outstanding demand. The Revenue did not object to this adjustment. The Tribunal, after considering the submissions, allowed the adjustment of the refund against the installment payments.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 474072 (ITAT-BANGALORE)
• Duration Of Justice: 1 month(s) 10 day(s)
• Appeal Type: Others
• Pronouncement Date: 10-10-2024
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Next Hearing Date: 09-10-2024
• Assessment Year: misc
• Appeal Filed On: 30-08-2024
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A SREENIVASA RAO
• Assessee Lawyers: PADAMCHAND KHINCHA; C.A

Judgement Text

" IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, BANGALORE BEFORE SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI KESHAV DUBEY, JUDICIAL MEMBER S.P. No. 54/Bang/2024 (In ITA No. 311/Bang/2024 Assessment Years : 2015-16 M/s Practo Technologies Pvt. Ltd., 371, St. Johns Hospital Road, Santoshpuram, Koramangala, 3rd Block, Bengaluru – 560 034. PAN – AACCN 8042 Q Vs. The Dy. Commissioner of Income, Central Circle – 1(3), Bengaluru. . APPELLANT RESPONDENT Assessee by : Shri Padam Chand Khincha, C.A Revenue by : Shri A Sreenivasa Rao, CIT (DR) Date of hearing : 09.10.2024 Date of Pronouncement : 10.10.2024 O R D E R PER WASEEM AHMED, ACCOUNTANT MEMBER: This stay petition is filed by the assessee against the recovery of outstanding demand of Rs. 176,93,11,832.00. 2. At the outset, the ld. Counsel for the assessee submitted that the Revenue vide order dated 08/10/2024 was pleased to grant the stay on the recovery of demand subject to certain payment in installments. The ld. AR before us filed the order passed by the Revenue granting the stay on the recovery of demand. SP No.54/Bang/2024 Page 2 of 3 . 3. However, the ld. AR before us contended that there was refund due to the assessee by virtue of order giving effect to the order of ITAT for the assessment year 2017-18 dated 27/09/2024. In the said order, a refund of Rs. 7,21,14,794/- due to the assessee was calculated but the same has not been granted by the Revenue till date. Accordingly, it was prayed by the ld. AR that the refund due to the assessee may be adjusted against the initial installments to be paid by the assessee against the outstanding demand for the assessment year 2015-16 in compliances to the stay order passed by the Revenue dated 08/10/2024. 4. On the other hand, the ld. DR did not raise any objection if the refund due to the assessee is adjusted against outstanding due of the assessee for the assessment year 2015-16. 5. We have heard the rival contentions of both the parties and perused the materials available on record. There is no dispute to the fact that the stay has been granted to the assessee by the Revenue for the assessment year 2015-16 vide order dated 08/10/2024 subject to the payment of installment. As regards the prayer of the ld. AR for the adjustment of the refund due to the assessee discussed above, we find force and accordingly direct the Revenue to adjust the refund due to the assessee against the initial installments to be paid by the assessee against the recovery of outstanding demand in pursuance to the order dated 08/10/2024. Accordingly, we direct so. Hence, the stay petition filed by the assessee is allowed in terms of above. SP No.54/Bang/2024 Page 3 of 3 . 6. In the result, the stay petition filed by the assessee is allowed in terms of above. Order pronounced in court on 10th day of October, 2024 Sd/- Sd/- (KESHAV DUBEY) (WASEEM AHMED) Judicial Member Accountant Member Bangalore Dated, 10th October, 2024 / vms / Copy to: 1. The Applicant 2. The Respondent 3. The CIT 4. The CIT(A) 5. The DR, ITAT, Bangalore. 6. Guard file By order Asst. Registrar, ITAT, Bangalore "