SHRI SURESH KISANLALJI SANCHETI, MALKAPUR V. A.C.I.T., AKOLA CIRCLEA, Akola

SA 1/NAG/2017

• Counselvise Citation: [2014] 117 COUNSELVISE.COM (IT) 8887 (ITAT-NAGPUR)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 23-10-2014
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2012-2013
• Appeal Filed On: 10-01-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: A R NINAWE
• Assessee Lawyers: C J THAKAR
• Keywords: Application of stay; Reasonable cause

Judgement Text

1 S.A. NO. 01/NAG/2017. IN THE INCOME TAX APPELLATE TRIBUNAL, NAGPUR BENCH, NAGPUR BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER AND SHRI RAM LAL NEGI, JUDICIAL MEMBER.. STAY APPLICATION NO. 01/NAG/2017. (IN ITA NO. 513/NAG/2016) ASSESSMENT YEAR : 2012 - 13. SHRI SURESH KISANLAL SANCHETI, ASSTT. COMMISSIONER OF INCOME - TAX, MALKAPUR. VS. AKOLA CIRCLE, AKOLA. APPLICANT. RESPONDENT. APPLICANT BY : SHRI C.J. THAKAR. RESPONDENT BY : SHRI A.R. NINAWE. DATE OF HEARING : 24 - 03 - 2017. DATE OF PRONOUNCEMENT : 24 TH MARCH, 2017. O R D E R. PER SHAMIM YAHYA, A.M. : BY WAY OF THIS STAY APPLICATION THE ASSESSEE SEEKS STAY OF OUTSTANDING TAX AND INTEREST AMOUNTING TO RS.19,58,995/ - FOR ASSESSMENT YEAR 2012 - 13. 2. WE HAVE HEARD BOTH THE COUNSEL AND PERUSED THE RECORDS. LEARNED COUNSEL OF THE ASSESSEE SUBMITTED THAT THE ISSUE IN THE MAIN APPEAL PERTAINS TO DISALLOWANCE OF LABOUR EXPENSES BY INVOKING THE PROVISIONS OF SECTION 40A(3). LEARNED COUNSEL SUBMITTED THAT THE GENUINENESS OF THE PAYMENT IS NOT IN DOU B T AND THAT THERE WAS REASONABLE CAUSE FOR MAKING THE PAYMENT IN CASH. FURTHER MORE LEARNED COUNSEL SUBMITTED THAT THE ASSESSEE IS SUFFERING FROM A CUTE C ORONARY S YNDROME U NSTABLE A ANGINA AND HIS FINANCIAL STATUS IS EXTREMELY POOR. 3. UPON CAREFUL CONSIDERATION, IN OUR CONSIDERED OPINION, THE ASSESSEE IN THIS CASE CAN BE GRANTED A CONDITIONAL STAY. ACCORDINGLY WE DIRECT THE ASSESSEE 2 S.A. NO. 01/NAG/2017. TO PAY A SUM OF RS.2 LAKHS BY 15 TH APRIL, 2017. REGISTRY IS DIRECTED TO FIX THE CASE ON PRIORITY BASIS AT THE TIME OF NEXT BENCH. 4. IN ACCORDANCE WITH THE ABOVE, STAY IS GRANTED FOR 180 DAYS FROM THE DATE OF THIS ORDER. 5. IN THE RESULT, THIS STAY APPLICATION IS DISPOSED OF IN TERMS OF ABOVE. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 24 TH DAY OF MARCH, 2017. SD/ - SD/ - (RAM LAL NEGI) ( SHAMIM YAHYA) JUDICIAL MEMBER. AC OUNTANT MEMBER. NAGPUR, DATED: 24 TH MARCH, 2017. COPY FORWARDED TO : 1. SHRI SURESH KISANLAL SANCHETI, SANCHETI GLLI, AT POST AND TQ. MALKAPUR, DIST. BULDHANA - 443101. 2. AC.I.T., AKOLA CIRCLE, AKOLA. 3. CIT(APPEALS) - I, NAGPUR. 4. C.I.T. - I, NAGPUR. 5. D.R., ITAT, NAGPUR. 6. GUARD FILE TRUE COPY BY ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, NAGPUR BENCH, NAGPUR. WAKODE.