PUTZMEISTER CONCRETE MACHINES PRIVATE LIMITED,GOA V. DEPUTY COMMISSIONER OF INCOME TAX/, ASSISTANT COMMISSIONER OF INCOME-TAX/ASSESSING OFFICER, GOA

SA 5/PAN/2026

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Putzmeister Concrete Machines Pvt. Ltd. filed a stay application seeking an extension on the recovery of outstanding demands for the assessment years 2016-17, 2017-18, 2018-19, and 2020-21. The company argued its financial position and supported its application with statements of bank balance and outstanding liabilities. The Departmental Representative (DR) objected to a blanket stay but acknowledged a refund of Rs. 3.59 crores available to the assessee from earlier assessment years. After considering the submissions and the financial circumstances of the company, the tribunal decided to grant a partial stay, conditional on the payment of Rs. 50 lakhs for each assessment year.

• Counselvise Citation: [2026] 140 COUNSELVISE.COM (IT) 845782 (ITAT-PANAJI)
• Duration Of Justice: 25 day(s)
• Appeal Type: Stay Application
• Pronouncement Date: 27-03-2026
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: Panaji
• Assessment Year: 2020-2021
• Appeal Filed On: 04-03-2026
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: KAILASH P. GAIKAWAD
• Keywords: Application of stay; Extension of stay
• Section: 2

Judgement Text

"1 SA No. 2 to 5/PAN/2026 Putzmeister Concrete Machine Pvt. Ltd. IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH PANAJI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER & SHRI GD PADMAHSHALI, ACCOUNTANT MEMBER S A No. Arising out of ITA No. Assessment Year 2/PAN/2026 ITA 324/PAN/2025 2016-17 3/ PAN/2026 ITA 325/PAN/2025 2017-18 4/ PAN/2026 ITA 326/PAN/2025 2018-19 5/ PAN/2026 ITA 327/PAN/2025 2020-21 PUTZMEISTER CONCRETE MACHINES PRIVATE LIMITED, POLT No. N-4, PHASE IV, VERNA INDUSTRIAL ESTATE, VERNA INDUSTRIAL ESTATE SOUTH GOA, PANAJI Vs. DEPUTY COMMISSIONER OF INCOME TAX/ASSISTANT COMMISSIONER OF INCOME TAX/ASSESSING OFFICER, GOA. PAN.No. AACCD2090G (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) Applicant by Shri. Ajit Jain, Ld. AR Revenue by Shri. Kailash P. Gaikawad, CIT DR सुनवाईकीतारीख/Date of Hearing 27.03.2026 घोषणाकीतारीख/Date of Pronouncement 27.03.2026 PER BENCH (2:2):- The captioned applications have been filed by the assessee/applicant seeking extension of stay on recovery of Printed from counselvise.com 2 SA No. 2 to 5/PAN/2026 Putzmeister Concrete Machine Pvt. Ltd. outstanding demands, pertaining to the Assessment Years (A.Y.) 2016-17, 2017-18, 2018-19 & 2020-21. 2. We heard both the parties at length supported with the Stay Application and statements of bank balance and outstanding liabilities to explain financial position. The Ld. DR objected for granting the blanket stay but there is a refund available to the Assessee of Rs. 3.59 crores for the earlier assessment years. Considering the facts, balance of convenience and submissions of both the parties, subject to payment of Rs. 50 lakhs for each assessment year (2016-17, 2017-18, 2018-19 & 2020-21) aggregating to Rs. 2 crore is directed to be paid on or before 31 March 2026. The balance stay is granted for next six months or till the disposal of the main appeals, whichever is earlier. 3. In the result, stay application is allowed as above. Order pronounced in the open court on 27.03.2026. Sd/- Sd/- (GD PADMAHSHALI) (PAVAN KUMAR GADALE) ACCOUNTANT MEMBER JUDICIAL MEMBER Panaji, Dated: 27/03/2026 Printed from counselvise.com 3 SA No. 2 to 5/PAN/2026 Putzmeister Concrete Machine Pvt. Ltd. Copy of the Order forwarded to: 1. The Appellant, 2. The Respondent 3. The CIT(A)- 4. CIT 5. DR, ITAT, 6. Guard file. //True copy// BY ORDER, (Asstt. Registrar) ITAT, Panaji Printed from counselvise.com "