M/s. Charu Rngineering Industries & M/s. Charu Innovation Department & Industries, Guwahati V. Deputy Commissioner of Income Tax, Circle-3, Guwahati

SA 08/GTY/2018

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 0536 (ITAT-GUWAHATI)
• Duration Of Justice: 5 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-03-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2012-2013
• Appeal Filed On: 12-10-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: DEVA RAJ SAHU
• Keywords: Application of stay

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL GAUHATI E COURT AT KOLKATA [BEFORE SHRI P.M. JAGTAP, VICE PRESIDENT & SHRI S.S. VISWANETHRA RAVI, JM] S.A. NO. 08/GAU/2018 (ARISING OUT OF ITA NO. 279/GAU/2018) ASSESSMENT YEAR: 2012-13 LAXMI RAM THAKURIA.................................APPELLANT PROP: M/S. CHARU ENGINEERING INDUSTRIES & M/S. CHARU INNOVATION DEPTT. & INDUSTRIES, THAKURIS NOVELTY, M.T. ROAD, FOREST GATE, NARENGI, GUWAHATI 781 026. [PAN : ACBPT 9469 P] DCIT, CIRCLE 3 GUWAHATI..............................RESPONDENT AAYAKAR BHAWAN, 7 TH FLOOR, G.S. ROAD, GUWAHATI 781 005. APPEARANCES BY: SHRI DEVA RAJ SAHU, ADVOCATE APPEARING ON BEHALF OF THE ASSESSEE. SHRI PRADIP SENGUPTA, JCIT, SR. DR APPEARING ON BEHALF OF THE REVENUE. DATE OF CONCLUDING THE HEARING : MARCH 08, 2019 DATE OF PRONOUNCING THE ORDER : MARCH 08, 2019 O R D E R PER P.M. JAGTAP, VICE PRESIDENT BY THIS STAY APPLICATION, THE ASSESSEE IS SEEKING STAY OF OUTSTANDING DEMAND OF RS. 96,34,060/- FOR A.Y. 2012-13. 2. WE HAVE HEARD THE ARGUMENTS OF BOTH THE SIDES AND ALSO PERUSED THE RELEVANT MATERIAL AVAILABLE ON RECORD. AS SUBMITTED BY THE LEARNED COUNSEL FOR THE ASSESSEE, THE IMPUGNED OUTSTANDING DEMAND HAS ARISEN AS A RESULT OF DISALLOWANCE OF ASSESSEES CLAIM FOR DEDUCTION U/S 80IE AND THE ASSESSEE HAS A GOOD PRIMA FACIE CASE TO SUCCEED ON THE SAID ISSUE RAISED IN THE APPEAL ALREADY FILED BEFORE THE TRIBUNAL KEEPING IN VIEW THAT SUBSTANTIAL 2 S.A. NO. 08/GAU/2018 (A.Y. 2012-13) LAXMI RAM THAKURIA EXPANSION AND MODERNIZATION WAS UNDERTAKEN IN THE F.Y. 2008-09. THE LEARNED DR, ON THE OTHER HAND, HAS CONTENDED THAT THIS ISSUE HAS ALREADY BEEN DECIDED BY THE LD. CIT(A) AGAINST THE ASSESSEE AFTER EXAMINING ALL THE RELEVANT ASPECTS BY PASSING A DETAILED ORDER. HE HAS CONTENDED THAT THE ASSESSEE THEREFORE CANNOT BE SAID TO HAVE A GOOD PRIMA FACIE CASE TO SUCCEED ON THIS ISSUE IN THE APPEAL FILED BEFORE THE TRIBUNAL. THE LEARNED COUNSEL FOR THE ASSESSEE HAS ALSO SUBMITTED THAT THE FINANCIAL POSITION OF THE ASSESSEE IS NOT GOOD AND ANY RECOVERY OF OUTSTANDING DEMAND AT THIS STAGE WILL HAVE ADVERSE EFFECT ON THE DAY TO DAY OPERATIONS OF HIS BUSINESS. THE LEARNED DR, IN THIS REGARD, HAS POINTED OUT THAT THE ASSESSEE HAS NOT PAID ANY AMOUNT AGAINST THE OUTSTANDING DEMAND AND IF AT ALL THE TRIBUNAL IS INCLINED TO GRANT THE STAY, THE ASSESSEE SHOULD BE ASKED TO DEPOSIT CERTAIN AMOUNT AGAINST THE OUTSTANDING DEMAND. 3. AFTER CONSIDERING THE RIVAL SUBMISSIONS AND KEEPING IN VIEW ALL THE FACTS OF THE CASE, WHICH ARE RELEVANT TO ASCERTAIN THE BALANCE OF CONVENIENCE WE ARE OF THE VIEW THAT THE OUTSTANDING DEMAND IN THIS CASE CAN BE STAYED SUBJECT TO A PAYMENT OF AMOUNT EQUAL TO 20% OF THE OUTSTANDING DEMAND BY THE ASSESSEE. WE ACCORDINGLY DIRECT THE ASSESSEE TO DEPOSIT AN AMOUNT EQUAL TO 20% OF THE OUTSTANDING DEMAND OF 15 TH MARCH, 2019. SUBJECT TO THE SAID PAYMENT, THE BALANCE OUTSTANDING DEMAND IS DIRECTED TO BE KEPT IN ABEYANCE FOR A PERIOD OF 6 MONTHS OR TILL THE DISPOSAL OF THE APPEAL OF THE ASSESSEE WHICHEVER IS EARLIER. THE REGISTRY IS DIRECTED TO FIX THE SAID APPEAL FOR HEARING BEFORE THE NEXT TOURING BENCH / E-COURT. 3 S.A. NO. 08/GAU/2018 (A.Y. 2012-13) LAXMI RAM THAKURIA 4. IN THE RESULT, THE STAY APPLICATION OF THE ASSESSEE IS ALLOWED IN TERMS INDICATED ABOVE. ORDER PRONOUNCED IN THE OPEN COURT ON 8 TH MARCH, 2019 SD/- SD/- (S.S.VISWANETHRA RAVI) (P.M. JAGTAP) JUDICIAL MEMBER VICE PRESIDENT DATED: 08/03/2019 BISWAJIT, SR. PS COPY OF ORDER FORWARDED TO: 1. LAXMI RAM THAKURIA, PROP: M/S. CHARU ENGINEERING INDUSTRIES & M/S. CHARU INNOVATION DEPTT. & INDUSTRIES, THAKURIS NOVELTY, M.T. RAOD, FOREST GATE, NARENGI, GUWAHATI 781 026. 2. DCIT, CIRCLE 3, GUWAHATI. 3. THE CIT(A) 4. THE CIT 5. DR TRUE COPY, BY ORDER, SR. P.S. / H.O.O. ITAT, GAUHATI BENCHES