M/s. S.K. Bhansali & Associates, Pune V. Income-tax Officer, Ward - 2(4), Pune

SA 118/PUN/2018

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 0602 (ITAT-PUNE)
• Duration Of Justice: 4 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-03-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2010-2011
• Appeal Filed On: 12-11-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: V L JAIN
• Keywords: Application of stay

Judgement Text

] IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH B, PUNE BEFORE MS. SUSHMA CHOWLA, JM AND SHRI ANIL CHATURVEDI, AM . / S.A. NO.118/PUN/2018 (ARISING OUT OF ITA NO.2609/PUN/2017) / ASSESSMENT YEAR : 2010-11 S.K. BHANSALI AND ASSOCIATES 1194/17, SUJAY HOUSING SOCIETY, SHIVAJINAGAR, PUNE 411005 PAN :AAHFS8598L . / APPELLANT V/S INCOME TAX OFFICER, WARD-2(4), PUNE. . / RESPONDENT / APPELLANT BY : SHRI V.L. JAIN / RESPONDENT BY : SHRI SUDHENDU DAS / ORDER PER ANIL CHATURVEDI, AM : 1. THROUGH THE PRESENT STAY APPLICATION, THE ASSESSEE WANTS US TO STAY THE NET OUTSTANDING TAX DEMAND OF RS .70,07,180/- FOR A.Y. 2010-11. LD.A.R. SUBMITTED THAT AGAINST THE GROSS TAX DEMAND OF RS.70,42,580/- COMPRISING OF TAX OF RS.43,87,358/- A ND INTEREST OF RS.26,55,222/-, THE ASSESSEE HAS ALREADY PAID RS.35,400/- AND THE NET AMOUNT OUTSTANDING IS RS.70,07,180/-. 2. BEFORE US LD.A.R. SUBMITTED THAT THE PRESENT TAX DEMA ND HAS ARISEN ON ACCOUNT OF ADDITION OF RS.1.42 CRORES MADE IN TH E HANDS OF ASSESSEE U/S.69B ON ACCOUNT OF ALLEGED CASH PAYMENT BY ASSESSEE TO / DATE OF HEARING : 16.11.2018 / DATE OF PRONOUNCEMENT: 16.11.2018 2 TAPADIA FAMILY FOR PURCHASE OF LAND. HE SUBMITTED THAT DUR ING THE COURSE OF ASSESSMENT PROCEEDINGS ASSESSEE HAD SOUGHT CROSS EXAMINATION OF MR. AJAY TAPADIA BUT NO CROSS EXAMINATION C OULD BE CONDUCTED. HE SUBMITTED THAT ON THE MERITS, THE ASSESS EE HAS A PRIMA FACIE STRONG ARGUABLE CASE. HE FURTHER SUBMITTED TH AT ASSESSEE HAS ALREADY PAID 35,400/- OF THE DISPUTED TAX D EMAND AND IS FURTHER WILLING TO DEPOSIT SUCH AMOUNT AS DEEMED FIT BY T HE TRIBUNAL. HE THEREFORE SUBMITTED THAT THE ENTIRE OUTSTAN DING TAX DEMAND BE STAYED AND THAT AN EARLY HEARING BE GRANTE D. LD. D.R. ON THE OTHER HAND OPPOSED THE STAY APPLICATION AND SUBMITT ED THAT THE ASSESSEE HAS NOT DEMONSTRATED THE FINANCIAL HARDSHIP AND THE ASSESSEE HAS HARDLY DEPOSITED ANY SIGNIFICANT AMOUNT AGA INST THE OUTSTANDING TAX DEMAND AND THEREFORE ASSESSEE DOES NO T DESERVE STAY. HE THEREAFTER SUBMITTED THAT THE ASSESSEE BE AS KED TO DEPOSIT ATLEAST 50% OF THE OUTSTANDING DEMAND. 3. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL ON RECORD. CONSIDERING THE TOTALITY OF THE AFORESAID FACTS, W E ARE OF THE VIEW THAT ASSESSEE HAS A PRIMA FACIE CASE, BALANCE OF C ONVENIENCE AND THUS IT IS A FIT CASE FOR GRANTING STAY. WE THEREFORE GRANT STAY OF THE DISPUTED TAX DEMAND SUBJECT TO THE FOLLOWING CONDITIONS : A) THE ASSESSEE IS DIRECTED TO DEPOSIT RS.10 LACS BY 30-11-2018. B) THE ASSESSEE SHALL FURNISH PROOF OF PAYMENTS OF TAX AT TH E TIME OF HEARING. 3 C) SUBJECT TO THE PAYMENT OF TAX AS INDICATED IN (A) ABOVE; AN EARLY HEARING IS HEREBY GRANTED AND THIS APPEAL IS THERE FORE FIXED FOR HEARING ON 14-01-2019. SINCE THIS DATE IS PRONOUNCED IN THE OPEN COURT FOR WHICH BOTH THE PARTIE S HAVE AGREED, NO SEPARATE NOTICE OF HEARING IS THEREFORE REQUIRED TO BE ISSUED BY THE REGISTRY. D) THAT THE ASSESSEE SHALL NOT SEEK FRIVOLOUS ADJOURNMENT. I F A PAPER BOOK IS DESIRED TO BE FILED BY THE ASSESSEE, THEN T HE SAME SHOULD BE SUBMITTED WELL IN ADVANCE AS PRESCRIBED IN ITAT RULES. E) IN CASE OF BREACH OF THE ABOVE CONDITIONS, THE STAY GRA NTED SHALL AUTOMATICALLY GET VACATED. 4. SUBJECT TO THE FULFILLMENT OF THE ABOVE CONDITIONS, THE B ALANCE OUTSTANDING DEMAND IS STAYED FOR A PERIOD OF 180 DAYS FRO M THE DATE OF THIS ORDER OR TILL DISPOSAL OF THE APPEAL, WHICHEVER IS EARLIER. 5. IN THE RESULT, THE STAY APPLICATION FILED BY THE AS SESSEE IS DISPOSED OFF ON THE TERMS INDICATED IN THE FOREGOIN G PARAGRAPHS. ORDER PRONOUNCED ON 16 TH DAY OF NOVEMBER, 2018. SD/- SD/- ( SUSHMA CHOWLA ) ( ANIL CHATURVEDI ) / JUDICIAL MEMBER / ACCOUNTANT MEMBER PUNE; DATED : 16 TH NOVEMBER, 2018. SATISH 4 / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT 3. 4. 5. 6. THE CIT(A)-2, PUNE. THE PR.CIT-2, PUNE. , , / DR, ITAT, B PUNE; / GUARD FILE. / BY ORDER , // / TRUE COPY / / //// TRUE COPY // / SR. PRIVATE SECRETARY , / ITAT, PUNE.