M/s KBACE Technologies Private Limited , Chennai V. The Deputy Commissioner of Income Tax, Circle-4(1)(1), Bangalore

SA 110/BANG/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 5878 (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: B
• Assessment Year: 2013-2014
• Appeal Filed On: 23-03-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH B BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI A.K. GARODIA, ACCOUNTANT MEMBER S.P. NO. & ITA NO. PETITIONER RESPONDENT 110/BANG/2018 (IN IT (TP) A NO. 233/BANG/2018) (A.Y. 2013 - 14) M/S. KBACE TECHNOLOGIES PVT. LTD., 6 TH FLOOR, NEW NO. 165, OLD NO. 110, MENON ETERNITY BUILDING, ST. MARYS ROAD, ALWARPET, CHENNAI 600018. PAN : A ACCK3468K THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 4 (1) (1), BANGALORE ASSESSEE BY : SHRI CHAVALI NARAYAN, C. A. RE VENUE B Y : S MT. PADMAMEENAKSHI , JC I T ( DR ) DATE OF HEARING : 15.06.2018. DATE OF PRONOUNCEMENT : 15.06.2018. O R D E R PER SHRI A. K. GARODIA, A.M. : THE ASSESSEE HAS FILED THIS STAY PETITION SEEKING STAY ON COLLECTION OF OUTSTANDING DISPUTED DEMAND OF RS.35,48.580/- FOR T HE ASSESSMENT YEAR 2013 - 14. 2. IT WAS SUBMITTED BY THE LEARNED AR OF THE ASSESS EE THAT THE ASSESSEE CAN MAKE PART PAYMENT AND HE OFFERED THAT PAYMENT OF RS . 18,00,000/- CAN BE MADE BY THE ASSESSEE AND THE BALANCE DEMAND SHOULD BE STAYED AS THE ASSESSEE HAS A GOOD PRIMA FACIE CASE. LEARNED DR OF THE REVENUE OPPOSED TO THE GRANTING OF STAY. 3. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND GON E THROUGH THE FACTS AND THE ORDERS OF THE AUTHORITIES BELOW. IN VIEW OF THE FAC TS OF THE PRESENT CASE, WE GRANT STAY FOR 3 MONTHS FROM THE DATE OF THIS ORDER OR TILL THE DISPOSAL OF THE APPEAL OF THE ASSESSEE WHICHEVER IS EARLIER AND THI S STAY IS GRANTED SUBJECT TO THIS CONDITION THAT THE ASSESSEE HAS TO MAKE PAYMEN T OF RS. 18,00,000/- ON OR BEFORE 30.06.2018. WE HAVE NOTED THAT THE APPEAL IS ALREADY FIXED FOR HEARING ON 27.08.2018. WE WANT TO MAKE IT CLEAR THAT THE AS SESSEE SHOULD NOT SEEK 2 S.P. NO.110/BANG/2018 (IN IT(TP)A NO. 233/BANG/2018) ADJOURNMENT WITHOUT JUSTIFIABLE REASONS IN COURSE O F HEARING OF THIS APPEAL AND IF THE ASSESSEE DOES SO, THE STAY GRANTED BY THIS O RDER SHALL GET VACATED AUTOMATICALLY. 4. IN THE RESULT, THE STAY PETITION IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON THE DATE OF H EARING ON CONCLUSION OF THE HEARING. SD/- SD/- (SUNIL KUMAR YADAV) (A. K. GARODIA) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 15.06.2018. *MS COPY TO: 1. APPELLANT 4. CIT(A) 2. RESPONDENT 5. DR, ITAT, BANGALORE 3. CIT 6. GUARD FILE BY ORDER SENIOR PRIVATE SECRETARY, INCOME TAX APPELLATE TRIBUNAL, BANGALORE.