SHRI RAVI KEWALTANI, DURG V. INCOME TAX OFFICER, WARD 2(1), BHILAI

SA 05/RPR/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 6514 (ITAT-RAIPUR)
• Duration Of Justice: 1 year(s) 2 month(s) 11 day(s)
• Appeal Type: TDS Appeal
• Pronouncement Date: 08-05-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2014-2015
• Appeal Filed On: 26-02-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: D K JAIN
• Assessee Lawyers: R B DOSHI
• Keywords: Application of stay
• Section: 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL RAIPUR BENCH , RAIPUR BEFORE S HRI N.K. BILLAIYA (AM) AND SHRI RAM LAL NEGI (JM) SA NO. 05 /RPR /20 1 8 ARISING OUT OF ITA NO. 278 /RPR / 2017 ASSESSMENT YEAR - 2014 - 15 SHRI RAVI KEWALTANI, C/O BOMBAY FOOTWEAR, PACHARI PARA, G .E. ROAD, DURG PAN: AULPK6656M VS. THE INCOME TAX OFFICER - 2(1), REVENUE BUILDING, NEW CIVIC CENTRE, BHILAI (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI R.B. DOSHI (CA ) REVENUE BY : SHRI D.K. JAIN (DR) DATE OF HE ARING: 06 /03 /201 8 DATE OF PRONOUNCEMENT: 06 / 0 3 /201 8 O R D E R PER RAM LAL NEGI, JM BY WAY OF THIS APPLICATION , THE APPLICANT/ASSESSEE HAS SOUGHT STAY ON RECOVERY OF DEMAND OF RS 16,33,980/ - RAISED ON THE BASIS OF ORDER DATED 05.0 9.2017 PASSED BY THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) PERTAI NING TO THE ASSESSMENT YEAR 2014 - 15. 2. BEFORE US, THE LD. COUNSEL FO R THE ASSESSEE SUBMITTED THAT THE ADDITION OF RS. 53,04,510/ - WAS MADE BY THE AO ON ACCOUNT OF UNEXPLAINED MONEY U/S 69A OF THE ACT. IN THE FIRST APPEAL, T HE LD. CIT(A) CONFIRMED THE ADDITION MADE BY THE AO. AGAINST THE IMPUGNED ORDER, T HE ASSESSEE HAS FILED APPEAL ITA NO 278/RPR/2017 ITAT CHALLENGING THE ACTION OF CIT (A), WHICH IS PENDING 2 SA NO. 05 /RPR /2018 ASSESSMENT YEAR: 2014 - 15 ADJUDICATION BEFORE THE T RIBUNAL. THE LD. COUNSEL FURTHER SUBMITTED THAT T HE AO IS P RESSING HARD FOR PAYMENT OF DEMAND. THE LD. COUNSEL FURTHER SUBMITTED THAT THE ASSESSEE IS NOT IN A POSITION TO PAY THE OUTSTANDING DEMAND AND IN CASE RECOVERY IS NOT STAYED DURING PENDENCY OF THE APPEAL, FINANCIAL HARDSHIP WOULD BE CAUSED TO THE ASSESEEE. 3. THE LD. COUNSEL FURTHER SUBMITTED THAT IN VIEW OF THE AFORESAID FACTS THIS APPLICATION MAY KINDLY BE ALLOWED AND RECOVERY OF OUTSTANDING DEMAND MAY BE STAYED TILL DISPOSAL OF THE APPEAL. 4. ON THE OTHER HAND, THE LD. DEPARTMENTAL REPRESENTATIVE OPPOSED THE APPLICATION AND SUBMITTED THAT THE ASSESSEE MAY BE DIRECTED TO PAY AT LEAST 20% OF THE DEMAND. 5. WE HAVE HEARD THE RIVAL SUBMISSIONS AND ALSO PERUSED THE MATERIAL ON RECORD. WE NOTICE T HAT T HE LD. CIT(A) HAS AFFIRMED THE ADDITION RS. 53,40,510/ - MADE BY THE AO ON ACCOUNT OF CASH DEPOSITS IN THE BANK ACCOUNT AS ON 01.04.2013 . THE CONTENTION OF THE ASSESSEE BEFORE THE AUTHORITIES BELOW WAS THAT IT HAD OPENING CASH BALANCE OF RS. 13,46,85 2/ - AND A SUM OF RS. 42,99,500/ - WAS RECEIVED ON SALE OF LAND . T HE SAID AMOUNT S WERE DEPOSITED IN THE BANK ACCOUNT. HENCE, IN OU R CONSIDERED VIEW THERE IS A PRIMA FACIE GOOD CASE IN FAVOUR OF THE ASSESSEE , THEREFORE, THE BALANCE OF CONVENIENCE IS IN FAVOUR OF THE ASSESSEE. WE FURTHER NOTICE THAT THE ASSESSEE HAS ALREADY PAID RS.5,00,000/ - BEFORE FILING THE PRESET APPLICATION . THE APPEAL IS NO T LIKELY TO BE DISPOSED OF WITHIN A SHORT PERIOD OF TIME. UNDER THESE CIRCUMSTANCES, WE ARE OF THE VIEW THAT THIS IS A FIT CASE IN WHICH STAY CAN BE GRANTED. WE, ACCORDINGLY, ALLOW THE APPLICATION AND STAY THE RECOVERY OF DEMAND FOR A PERIOD OF 180 DAYS 3 SA NO. 05 /RPR /2018 ASSESSMENT YEAR: 2014 - 15 FROM THE DATE OF THIS ORDER OR TILL DISPOSAL OF THE CASE WHICHEVER IS EARLIER. THE STAY APPLICATION IS ACCORDINGLY DISP OSED OF. IN TH E RESULT, STAY APPLICATION IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 6 TH MARCH, 2018 . SD/ - SD/ - ( N.K. BILLAIYA ) ( RAM LAL NEGI ) ACCOUNTANT MEMBER JUDICIAL MEMBER RAIPUR ; DATED: 06 / 0 3 / 201 8 ALINDRA PS / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - 4. / CIT 5. , , RAIPUR / DR, ITAT, RAIPUR 6. / GUARD FILE . / BY ORDER, //TRUE COPY// PRIVATE SECRETARY ITAT, RAIPUR