MESERS FASHION HOUSE, RAIPUR V. INCOME TAX OFFICER- 4(3), RAIPUR

SA 02/RPR/2019

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 6518 (ITAT-RAIPUR)
• Duration Of Justice: 3 month(s) 23 day(s)
• Appeal Type: TDS Appeal
• Pronouncement Date: 08-05-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2013-2014
• Appeal Filed On: 16-01-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: D K JAIN
• Assessee Lawyers: R B DOSHI
• Keywords: Application of stay
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, RAIPUR BENCH, RAIPUR BEFORE SHRI ANIL CHATURVEDI, AM AND SHRI PARTHA SARATHI CHAUDHU RY , JM S.A. NO. 0 2 / RPR /20 1 9 (ARISING OUT OF ITA NO. 217 /RPR/201 8 ) ASSESSMENT YEAR : 201 3 - 14 M/S. FASHION HOUSE, MALVIYA ROAD, RAIPUR, ( C.G.) PAN : AACFF3323M ....... / APPELLANT / V/S. INCOME TAX OFFICER, WARD 4(3), RAIPUR / RESPONDENT A SSESSEE BY : SHRI R.B. DOSHI REVENUE BY : SHRI D.K. JAIN / DATE OF HEARING : 1 7 .01.2019 / DATE OF PRONOUNCEMENT : 17 .01.2019 2 S.A. NO. 0 2 /RPR/2019 / ORDER PER ANIL CHATURVEDI, AM : THROUGH THE PRESENT STAY APPLICATION, THE ASSESSEE WANTS US TO STAY THE NET OUTSTANDING TAX DEMAND OF RS. 21,62,270/ - FOR A.Y. 201 3 - 14. BEFORE US, LD. A.R. SUBMITTED THAT THE GROSS TAX DEMAND RAISED BY THE AO IS RS . 25,43,870/ - (WHICH COMPRISES TO TAX OF RS. 3,81,600/ - AND RS. 21,62,270/ - AGAINST WHICH ASSESSEE HAS ALREADY PAID RS .3 ,81,600/ - AND THEREFORE THE NET OUTSTANDING DEMAND IS RS . 21,62,270/ - . 2. BEFORE US LD. A.R. SUBMITTED THAT THE DISPUTED TAX DEMAND HAS M AINLY ARISEN DUE TO THE ADDITION OF RS.58,50,000/ - WAS MADE BY THE ASSESSING OFFICER U/S. 68 OF THE ACT. ON THE MERITS OF ADDITION, LD. A.R. SUBMITTED THAT ASSESSEE HAS STRONG ARGUABLE CASE. WITH RESPECT TO THE DISPUTED DEMAND HE SUBMITTED THAT ASSESSEE DOES NOT POSSESS ENOUGH LIQUID RESOURCES TO PAY AND THE PAYMENT WOULD CAUSE TREMENDOUS FINANCIAL HARDSHIP TO ASSESSEE. HE THEREFORE SUBMITTED THAT THE ENTIRE OUTSTANDING TAX DEMAND BE STAYED AND EARLY HEARING BE GRANTED. HE THEREAFTER SUBMITTED THAT THE ASSESSEE IS WILLING TO DEPOSIT SUCH AMOUNT AGAINST THE OUTSTANDING DISPUTED TAX DEMAND AS DEEMED FIT BY THE TRIBUNAL. 3. LD. D.R. ON THE OTHER HAND OPPOSED THE STAY APPLICATION AND SUBMITTED THAT SINCE CIT(A) HAS ALREADY DECIDED THE ISSUE IN FAVOUR OF RE VENUE THE ASSESSEE BE ASKED TO DEPOSIT 100% OF THE OUTSTANDING DEMAND. 3 S.A. NO. 0 2 /RPR/2019 4 . WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL ON RECORD. CONSIDERING THE TOTALITY OF THE FACTS STATED HERE - IN - ABOVE , WE ARE OF THE VIEW THAT ASSESSEE HAS A PRIMA FACIE CASE, BALANCE OF CONVENIENCE AND THUS IT IS A FIT CASE FOR GRANTING STAY. WE THEREFORE GRANT STAY OF THE DISPUTED TAX DEMAND SUBJECT TO THE FOLLOWING CONDITIONS : A) THE ASSESSEE IS DIRECTED TO DEPOSIT RS. 10 LACS IN FOUR INSTALLMENTS AGAINST THE OUTSTANDING DEMAND IN FOLLOWING MANNER : (I) RS. 2.5 LACS TO BE DEPOSITED BY 15 .02.201 9 . (II) RS. 2 .5 LACS TO BE DEPOSITED BY 28.02.2019 . (III) RS. 2 .5 LACS TO BE DEPOSITED BY 15.03.2019 . (IV) RS. 2 .5 LACS TO BE DEPO SITED BY 30.04.2019 . B) THE ASSESSEE SHALL FURNISH PROOF OF PAYMENTS OF TAX AT THE TIME OF HEARING. C ) THAT THE ASSESSEE SHALL NOT SEEK FRIVOLOUS ADJOURNMENT. IF A PAPER BOOK IS DESIRED TO BE FILED BY THE ASSESSEE, THEN THE SAME SHOULD BE SUBMITTED WELL IN ADVANCE AS PRESCRIBED IN ITAT RULES. D ) IN CASE OF BREACH OF THE ABOVE CONDITIONS, THE STAY GRANTED SHALL AUTOMATICALLY GET VACATED UNLESS DIRECTED OTHERWISE BY THE BENCH. 4 S.A. NO. 0 2 /RPR/2019 5 . SUBJECT TO THE FULFILLMENT OF THE ABOVE CONDITIONS, THE BALANCE OUTSTANDING D EMAND IS STAYED FOR A PERIOD OF 180 DAYS FROM THE DATE OF THIS ORDER OR TILL DISPOSAL OF THE APPEAL, WHICHEVER IS EARLIER. 6 . IN THE RESULT, THE STAY APPLICATION FILED BY THE ASSESSEE IS DISPOSED OFF ON THE TERMS INDICATED IN THE FOREGOING PARAGRAPHS. ORDER PRO NOUNCED ON 17 TH DAY OF JANUARY , 201 9 . SD/ - SD/ - PARTHA SARATHI CHAUDHURY ANIL CHATURVEDI JUDICIAL MEMBER ACCOUNTANT MEMBER / RAIPUR ; / DATED : 17 TH JANUARY, 2019 . RK / COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT. 2. THE RESPONDENT 3. THE CIT 4. THE CIT(A) 5. THE DR, I.T.A.T., RAIPUR //TRUE COPY// //TRUE COPY// / BY ORDER, / PRIVATE SECRETARY , / ITAT, RAIPUR . 5 S.A. NO. 0 2 /RPR/2019 DATE 1 DRAFT DICTATED ON 1 7 .01.2019 SR.PS/PS 2 DRAFT PLACED BEFORE AUTHOR 1 7 .01 .201 9 SR.PS/PS 3 DRAFT PROPOSED AND PLACED BEFORE THE SECOND MEMBER JM/AM 4 DRAFT DISCUSSED/APPROVED BY SECOND MEMBER AM/JM 5 APPROVED DRAFT COMES TO THE SR. PS/PS SR.PS/PS 6 KEPT FOR PRONOUNCEMENT ON SR.PS/PS 7 DATE OF UPLOADING OF ORDER SR.PS/PS 8 FILE SENT TO BENCH CLERK SR.PS/PS 9 DATE ON WHICH THE FILE GOES TO THE HEAD CLERK 10 DATE ON WHICH FILE GOES TO THE A.R 11 DATE OF DISPATCH OF ORDER