Hardayal Charitable & Educational Trust, Firozabad V. I.T.O., Ward-5(2), Agra

SA 1/AGR/2015

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 0779 (ITAT-AGRA)
• Duration Of Justice: 4 year(s) 2 month(s) 28 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 16-05-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: misc
• Appeal Filed On: 18-02-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: R K AGARWAL
• Keywords: Charitable institution; Application of stay
• Section: 2

Judgement Text

INCOME TAX APPELLATE TRIBUNAL, AGRA BENCH, AGRA BEFORE : SHRI G. C. GUPTA, VICE-PRESIDENT AND SHRI PRAMOD KUMAR, ACCOUNTANT MEMBER S.A. NO. 01/AGRA/2015 (ARISING OUT OF ITA NO.58/AGRA/2015) ASSESSMENT YEAR : 2011-12 HARDAYAL CHARITABLE & EDUCATIONAL TRUST, VS. INCOM E-TAX OFFICER, 318, SHAMBHU NAGAR, WARD 5(2), FIROZABAD. SHIKOHABAD, DISTT. FIROZABAD. (PAN : AAATH 7652 M) (APPLICANT) (RESPONDENT) APPLICANT BY : SH. R.K. AGARWAL, ADVOCATE RESPONDENT BY : SH. WASEEM ARSHAD, SR. DR DATE OF HEARING : 27.02.2015 DATE OF PRONOUNCEMENT : 27.02.2015 ORDER PER G.C. GUPTA, V.P. : BY THIS STAY APPLICATION, THE ASSESSEE HAS REQUEST ED FOR STAY OF OUTSTANDING DEMAND OF RS.2,97,68,450/-. 2. THE LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT TOTAL DEMAND RAISED IN THIS CASE WAS RS.3,27,68,450/-, OUT OF WHICH THE ASSESSE E HAS ALREADY DEPOSITED A SUM OF RS.30,00,000/-. HE SUBMITTED THAT THE ASSESSEE IS A CHARITABLE TRUST AND THERE WAS NO INCOME OR RECEIPT DURING THE YEAR. THE ASSESSEE IS IN THE PROCESS OF CONSTRUCTING BUILDING FOR CHARITABLE PURPOSE. HE SUBMITTED THAT THE AO HAS TREATED THE CORPUS DONATION AS INCOME OF THE ASSESSEE. THE LD. DR SUB MITTED THAT THE VOLUNTARY NATURE 2 SA NO. 01/AGRA/2015 OF CORPUS DONATION COULD NOT BE ESTABLISHED BY TH E ASSESSEE. HE SUBMITTED THAT NO AUDIT REPORT WAS FILED BY THE ASSESSEE BEFORE THE A O. HE SUBMITTED THAT GENUINENESS OF THE TRUST HAS TO BE PROVED BY THE ASSESSEE, WHIC H THE ASSESSEE HAS FAILED TO PROVE. HE REFERRED TO THE RELEVANT PORTION OF THE CIT(A)S ORDER TO SUPPORT THE CONTENTION THAT THE AMOUNT OF RS.8,00,000/- WAS PAID IN CASH T O SHRI MUKESH CHANDRA IN CONTRAVENTION OF THE PROVISIONS OF THE ACT. 3. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS. AFTER CONSIDERING THE FACTS OF THE CASE, WE ARE OF THE VIEW THAT THE ASSESSEE DESERVES A CONDITIONAL STAY TO BE GRANTED AGAINST THE OUTSTANDING DEMAND. ACCORDINGLY, WE DIR ECT THAT THE OUTSTANDING DEMAND OF RS.2,97,68,450/- SHALL BE STAYED FOR A PE RIOD OF SIX MONTHS OR TILL DISPOSAL OF APPEAL BY THE TRIBUNAL, WHICHEVER IS EA RLIER, SUBJECT TO THE CONDITION THAT THE ASSESSEE DEPOSITS FURTHER AMOUNT OF RS.30,00,00 0/- ON OR BEFORE 15.03.2015. WE DIRECT ACCORDINGLY. 4. IN THE RESULT, THE STAY APPLICATION OF THE ASSES SEE IS ALLOWED AS ABOVE. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING OF STAY APPLICATION ON 27.02.2015. SD/- SD/- (PRAMOD KUMAR) (G.C. GUPTA) ACCOUNTANT MEMBER VICE - PRESIDENT DATE: 27 TH FEBRUARY, 2015 *AKS/- 3 SA NO. 01/AGRA/2015 COPY OF THE ORDER FORWARDED TO : 1. APPELLANT 2. RESPONDENT 3. CIT(A), CONCERNED 4. CIT, CONCERNED 5. DR ITAT, AGRA BENCH 6. GUARD FILE //TRUE COPY// BY O RDER, ASSTT. REGISTRAR ITAT, AGRA BENCH, AGRA