Mr. Deepak Varma , Bangalore V. Income Tax Officer Ward-1(2)(4), Bangalore

SA 105/BANG/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 5868 (ITAT-BANGALORE)
• Duration Of Justice: 1 year(s) 1 month(s) 9 day(s)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 01-05-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2013-2014
• Appeal Filed On: 22-03-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: B R RAMESH J
• Keywords: Application of stay; Reasonable cause
• Section: 54F

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, B ENGALURU BEFORE S HRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER SP NO. 105 /BANG/201 8 (IN I TA NO. 842 / BANG/2 0 1 8 ) (ASSESSMENT YEAR: 2013 - 14 ) SHRI DEEPAK VARMA, G001 H M A STORIA, 10 BENSON CROSS ROAD, BENGALURU - 560046. PAN: ABHVP9676M VS. PETITIONER INCOME - TAX OFFICER, WARD 1 (2)(4 ) , BENGALURU. RESPONDENT PETITI O NER BY : SHRI SANDEEP, CA. RESPONDENT BY : SHRI B.R. RAMESH, JCIT(DR) DATE OF HEA RING : 13 /0 4 /2018 DATE OF PRONOUNCEMENT : 18 / 0 4 /201 8 O R D E R PER I NTURI RAMA RAO, AM : THIS PETITION IS FILED BY THE ASSESSEE SEEKING STAY OF DEMAND OF RS.8,39,770/ - FOR THE ASSESSMENT YEAR 2013 - 14. IT IS STATED THAT THE DEMAND IN QUESTION HAD ARISEN ON ACCOUNT OF DENIAL OF BENEFIT U/S 54F ON WRONG PREMISE. 2. AFTER HEARING THE RIVAL SUBMISSIONS, WE ARE OF THE CONSIDERED OPINION THAT IT IS A FIT CASE TO STAY THE DEMAND AS THE APPEAL IS ALREADY POSTED FOR HEARING ON 19 TH APRIL 2018. THE STAY IS ALSO SUBJECT TO CONDITION THAT THE ASSESSEE SHALL NOT SEEK ADJOURNMENT OF THE CASE FROM HEARING WITHOUT ANY JUST AND REASONABLE CAUSE. SP NO . 105 /BAN G/201 8 PAGE 2 OF 2 3. IN THE RESULT, THE STAY PETITION IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 18 TH APRIL, 2018 SD/ - SD/ - (SUNIL KUMAR YADAV) (INTURI RAMA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER PLACE : BENGALURU. D A T E D : 18 / 04 /201 8 SRINIVASULU, SPS COPY TO : 1 APPELL ANT 2 RESPONDENT 3 CIT(A) 4 CIT 5 DR, ITAT, BANGALORE. 6 GUARD FILE BY ORDER SENIOR PRIVATE SECRETARY INCOME - TAX APPELLATE TRIBUNAL BANGALORE