M/s. Capstone Securities Analysis Pvt Ltd, Pune V. Deputy Commissioner of Income tax,Circle -1 (1), Pune

SA 10/PUN/2019

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 0591 (ITAT-PUNE)
• Duration Of Justice: 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-03-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2012-2013
• Appeal Filed On: 01-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Application of stay; Extension of stay

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH B, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI PARTHA SARATHI CHAUDHURY, JUDICIAL MEMBER S.A. NO.10/PUN/19 ITA NO.251/PUN/2017 / ASSESSMENT YEAR : 2012-13 M/S. CAPSTONE SECURITIES ANALYSIS PVT. LTD., COMMERZONE, BUILDING NO.4, UNIT 201, SAMRAT ASHOK PATH, OFF AIRPORT ROAD, YERWADA, PUNE 411 006 PAN : AABCV9569K VS. DCIT, CIRCLE-1(1) PUNE (APPELLANT) (RESPONDENT) / ORDER PER R.S.SYAL, VP : BY MEANS OF THE PRESENT STAY APPLICATION, THE ASSESSEE REQUIRES THE TRIBUNAL TO EXTEND THE STAY OF DEMAND OF RS.2. 01 CRORE FOR THE ASSESSMENT YEAR 2012-13 TILL THE DISPOSAL OF TH E CAPTIONED APPEAL BY THE TRIBUNAL. APPELLANT BY SHRI JATIN SHAH RESPONDENT BY SHRI M.K. VERMA DATE OF HEARING 08-03-2019 DATE OF PRONOUNCEMENT 08-03-2019 SA NO10/PUN/2019 M/S. CAPSTONE SECURITIES ANALYSIS PVT. LTD., 2 2. WE HAVE HEARD THE PARTIES AND PERUSED THE RELEVANT MATERIAL ON RECORD. IT IS FOUND THAT THE TRIBUNAL VIDE ITS ORDE R DATED 31-08-2018 IN S.A.NO.79/PUN/2018 GRANTED STAY DIRECTIN G THE ASSESSEE TO PAY RS.40 LAKHS, WHICH CONDITION STANDS FULF ILLED. THE APPEAL COULD NOT BE FINALLY HEARD FOR ONE REASON OR T HE OTHER, BUT, FOR NO FAULT OF THE ASSESSEE. CONSIDERING THE ENTIRETY OF THE FACTS AND CIRCUMSTANCES OF THE INSTANT CASE, WE ARE INCLINED TO GRANT EXTENSION OF STAY FOR A FURTHER PERIOD OF SIX MONTHS FROM TODAY OR TILL THE DISPOSAL OF THE APPEAL, WHICHEVER IS EARLIER . 3. IN THE RESULT, THE STAY APPLICATION IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 08 TH MARCH, 2019. SD/- SD/- (PARTHA SARATHI CHAUDHURY) (R.S.SYAL) JUDICIAL MEMBER VICE PRESIDENT PUNE; DATED : 08 TH MARCH, 2019. SA NO10/PUN/2019 M/S. CAPSTONE SECURITIES ANALYSIS PVT. LTD., 3 / COPY OF THE ORDER IS FORWARDED TO : 1. / THE APPELLANT; 2. / THE RESPONDENT; 3. ( ) / THE CIT (APPEALS)-13, PUNE 4. / THE CIT-5, PUNE 5. , , / DR B, ITAT, PUNE; 6. / GUARD FILE. // TRUE COPY // / BY ORDER, // TRUE COPY // SENIOR PRIVATE SECRETARY , / ITAT, PUNE DATE 1. DRAFT DICTATED ON 08-03-2019 SR.PS 2. DRAFT PLACED BEFORE AUTHOR 08-03-2019 SR.PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER JM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER. JM 5. APPROVED DRAFT COMES TO THE SR.PS/PS SR.PS 6. KEPT FOR PRONOUNCEMENT ON SR.PS 7. DATE OF UPLOADING ORDER SR.PS 8. FILE SENT TO THE BENCH CLERK SR.PS 9. DATE ON WHICH FILE GOES TO THE HEAD CLERK 10. DATE ON WHICH FILE GOES TO THE A.R. 11. DATE OF DISPATCH OF ORDER. *