SHRI HARMINDER SINGH CORRECT NAME HARMANDEP SINGH , AMRITSAR V. INCOME TAX OFFICER WARD 5(2), AMRITSAR

SA 06/ASR/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 6244 (ITAT-AMRITSAR)
• Duration Of Justice: 11 month(s) 25 day(s)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 29-04-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2010-2011
• Appeal Filed On: 04-05-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: P N ARORA
• Keywords: Application of stay
• Section: 147; 144

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR. BEFORE SH. SANJAY ARORA, ACCOUNTANT MEMBER AND SH. N. K. CHOUDHRY, JUDICIAL MEMBER STAY APPLICATION NO. 06/ASR/ 2018 (ARISING OUT OF ITA NO. 186/ASR/2018) ASSESSMENT YEAR: 2010-11 HARMINDER SINGH (CORRECT NAME IS HARMANDEEP SINGH) S/O JASBIR SINGH,13, VILLAGE BHAINI GILLAN, AMRITSAR [PAN: EIJPS 3979H] VS. INCOME TAX OFFICER, WARD 5(2)- AMRITSAR (APPLICANT) (RESPONDENT) APPELLANT BY : SH. P. N. ARORA (ADV.) RESPONDENT BY: SH. CHARAN DASS (D.R.) DATE OF HEARING: 01.06.2018 DATE OF PRONOUNCEMENT: 01.06.2018 ORDER PER SANJAY ARORA, AM: THIS STAY PETITION BY THE ASSESSEE IS IN RESPECT OF HIS ASSESSMENT U/S. 144 R/W S. 147 OF THE INCOME TAX ACT, 1961 DATED 10.03.2016 FOR ASSESSMENT YEAR (AY) 2010-11, SINCE CONFIRMED BY THE FIRST APPELLATE AUT HORITY, AND WHICH IS SUBJECT TO CHALLENGE BEFORE THE TRIBUNAL IN THE CAPTIONED APPE AL. 2. OPENING THE ARGUMENTS FOR AND BEHALF OF THE ASSE SSEE, IT WAS SUBMITTED BY THE LD. COUNSEL, SHRI P.N. ARORA, ADVOCATE THAT THE ASSESSEE IS AN AGRICULTURIST. PER AN EX PARTE ASSESSMENT, ADDITION FOR A HUGE AMOUNT OF RS.113.5 0 LACS HAS BEEN MADE U/S. 68, RAISING A DEMAND FOR RS.63.63 LACS. T HE ASSESSEE, WHO HAS NO LIQUID S. A. NO. 06/ASR/2018 (ARISING OUT OF ITA NO. 186/ASR/2018) HARMINDER SINGH V. ITO 2 FUNDS, HAS WITH DIFFICULTY BEEN ABLE TO ARRANGE FUN DS TO DEPOSIT RS.12.73 LACS, I.E., 20% OF THE IMPUGNED DEMAND. THE TAX RECOVERY OFFICE R (TRO) HAS YET PROCEEDED TO ATTACH THE ASSESSEES LANDED PROPERTY. ON MERITS, HE WOULD SUBMIT THAT THE ADDITION IS UNWARRANTED AS THE SUMS ADVANC ED TO THE ASSESSEE WERE ARRANGED FROM FAMILY AND FRIENDS FOR A DAIRY PROJEC T, WHICH THOUGH DID NOT MATERIALIZE. AS, HOWEVER, THE ASSESSEE HAD PURCHASE D LAND FOR THE PROJECT, HE HAD NO LIQUIDITY TO REFUND THE AMOUNT TO THE CREDITORS, WHO WERE TO BE THE STAKE-HOLDERS IN THE PROJECT. THE SAME STAND REPAID TO THE EXTENT POSSIBLE, AND THE BALANCE WOULD ONLY BE ON THE SALE OF THE PROPERTY, WHICH IS AGAIN HINDERED BY THE ATTACHMENT. THE NON-REPRESENTATION BEFORE THE ASSESSING OFFICER AND THE FIRST APPELLATE AUTHORITY HAS BEEN DUE TO PERSONAL PROBLEMS BEING FACED BY TH E ASSESSEE. THE ASSESSEE IS ALSO READY FOR AN EARLY HEARING OF THE MATTER. 3. WE HAVE HEARD THE PARTIES, AND PERUSED THE MATER IAL ON RECORD. THE CONTENTIONS OF THE LD. AUTHORIZED REPRESENTATI VE (AR), PARTLY BORNE OUT BY THE RECORD, OR NOT DISPUTED; THE LD. DEPARTMENTA L REPRESENTATIVES (DRS) ONLY CONTENTION BEFORE US BEING THAT THE ASSESSEES STAY APPLICATION HAD BEEN REJECTED BY THE REVENUE AUTHORITIES. WE, UNDER THE CIRCUMSTANCE S, CONSIDER IT TO BE A FIT CASE FOR GRANT OF STAY, I.E., FOR THE BALANCE OUTSTANDIN G DEMAND OF RS.50.90 LACS, WHICH SHALL BE FOR A PERIOD OF SIX MONTHS OR THE DISPOSAL OF THE ASSESSEES APPEAL BY THE TRIBUNAL, WHICHEVER IS EARLIER. THE DATE OF THE HEA RING OF THE APPEAL, AS ANNOUNCED IN THE OPEN COURT, IS FOR JUNE 27, 2018, AND NO SEP ARATE NOTICE OF HEARING SHALL BE SENT TO THE PARTIES. SEEKING OF ADJOURNMENT BY THE ASSESSEE EXCEPT FOR A JUSTIFIABLE CAUSE, WE MAY ADD, SHALL THOUGH OPERATE TO VACATE T HE STAY. WE DECIDE ACCORDINGLY. S. A. NO. 06/ASR/2018 (ARISING OUT OF ITA NO. 186/ASR/2018) HARMINDER SINGH V. ITO 3 4. IN THE RESULT, THE ASSESSEES STAY APPLICATION I S ALLOWED ON THE AFORESAID TERMS. ORDER PRONOUNCED IN THE OPEN COURT ON JUNE 1, 2018 SD/- SD/- (N. K. CHOUDHRY) (SANJAY ARORA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATE: 01.06.2018 /GP/SR. PS. COPY OF THE ORDER FORWARDED TO: (1) HARMINDER SINGH (CORRECT NAME IS HARM ANDEEP SINGH) S/O JASBIR SINGH,13, VILLAGE BHAIN I GILLAN, AMRITSAR (2) THE RESPONDENT: INCOME TAX OFFICER, W ARD 5(2), AMRITSAR (3) THE CIT(APPEALS)-2, AMRITSAR (4) THE CIT, CONCERNED. (5) THE SR. DR, I.T.A.T. TRUE COPY BY ORDER