Nadimpally Venkata Sankar Rama Krishnam Raju, Visakhapatnam V. The ITO, Visakhapatnam

SA 10/VIZ/2017

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 3926 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 1 year(s) 10 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-05-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2008-2009
• Appeal Filed On: 28-06-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: T S N MURTHY
• Keywords: Revision of order; Application of stay
• Section: 263

Judgement Text

SP NO.10/VIZAG/2017 NADIMPALLY VENKATA SANKAR RAMA KRISHNA RAJU, VSKP 1 , , IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM . , . . ' , % BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER S.P. NO.10/VIZAG/2017 (ARISING OUT OF I.T.A.NO.322/VIZAG/2017) ( / ASSESSMENT YEAR: 2008-09) NADIMPALLY VENKATA SANKAR RAMA KRISHNA RAJU VISAKHAPATNAM ITO, WARD - 1(3), VISAKHAPATNAM [PAN NO. ABZP N9699N ] ( ' / APPELLANT) ( ()' / RESPONDENT) / APPELLANT BY : SHRI G.V.N. HARI, AR / RESPONDENT BY : SHRI T.S.N. MURTHY, DR / DATE OF HEARING : 16.10.2017 / DATE OF PRONOUNCEMENT : 16.1 0 .2017 / O R D E R PER D.S. SUNDER SINGH, ACCOUNTANT MEMBER: THE ASSESSEE HAS FILED THE STAY PETITION, SEEKING STAY OF OUTSTANDING DEMAND OF ` 60,97,190/- FOR THE ASSESSMENT YEAR 2008-09 ARISING OUT OF CONSEQUENTIAL ORDER PASSED BY THE AS SESSING OFFICER U/S 263 OF THE INCOME TAX ACT, 1961 (HEREINAFTER CALLED AS 'THE ACT'). SP NO.10/VIZAG/2017 NADIMPALLY VENKATA SANKAR RAMA KRISHNA RAJU, VSKP 2 2. IN THIS CASE, THE ASSESSEE FILED STAY PETITION A GAINST OUTSTANDING DEMAND OF ` 60,97,190/-. THE DEMAND WAS RESULTED CONSEQUENT T O THE ORDER PASSED BY THE LD. CIT(A) U/S 263 OF THE ACT. THE ASSESSEE DID NOT SUBSTANTIATE THE CASE WITH THE FINANCIAL STATEMENT. THEREFORE, THE STAY PETITION FOR DEMAND, REQUESTED BY THE ASSESSEE IS R EJECTED AND THE APPEAL OF THE ASSESSEE ON STAY OF DEMAND IS DISMISS ED. 3. IN THE RESULT, THE STAY PETITION FILED BY THE AS SESSEE IS DISMISSED. THE ABOVE ORDER WAS PRONOUNCED IN THE OPEN COURT ON 16 TH OCT17. SD/- SD/- ( . ) ( . . ' ) (V. DURGA RAO) (D.S. SUNDER SINGH) /JUDICIAL MEMBER /ACCOUNTANT MEMBER ! /VISAKHAPATNAM: % /DATED : 16.10.2017 VG/SPS )! *! /COPY OF THE ORDER FORWARDED TO:- 1. / THE APPELLANT SEAWAYS SHIPPING & LOGISTICS LTD ., 16-23-61, A/1, PALLAMRAJU NAGAR, KAKINADA, ANDHRA PRADESH 2. / THE RESPONDENT THE ITO (INTERNATIONAL TAXATION ), KAKINADA 3. + / THE CIT (IT & TP), HYDERABAD 4. + ( ) / THE CIT (A)-10, HYDERABAD 5. ! . , . , ! / DR, ITAT, VISAKHAPATNAM 6 . / GUARD FILE / BY ORDER // TRUE COPY // SR. PRIVATE SECRETARY ITAT, VISAKHAPATNAM