M/s. B. U. Bhandari Constructions, Pune V. Assistant Commissioner of Income-tax, Circle - 2, Pune

SA 119/PUN/2018

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 0583 (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: A
• Assessment Year: 2014-2015
• Appeal Filed On: 12-11-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SANJEEV GHEI
• Assessee Lawyers: V L JAIN
• Keywords: Application of stay

Judgement Text

] IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH A, PUNE BEFORE SHRI ANIL CHATURVEDI, AM AND SHRI VIKAS AWASTHY, JM S.A. NO.119/PUN/2018 . / ITA NO.2608/PUN/2017 / ASSESSMENT YEAR : 2014-15 B.U. BHANDARI CONSTRUCTION, A-3, ABHIMANSHREE SOCIETY, PASHAN ROAD, PASHAN, PUNE 411 001 PAN : AACFB1467A . / APPELLANT V/S ACIT, CIRCLE - 2 , PUNE. . / RESPONDENT ASSESSEE BY : SHRI V.L. JAIN. REVENUE BY : SHRI SANJEEV GHEI / ORDER PER ANIL CHATURVEDI, AM : 1. THROUGH THE PRESENT STAY APPLICATION, THE ASSESSEE W ANTS US TO STAY THE NET OUTSTANDING TAX DEMAND OF RS.20,56,940/- FOR A.Y. 2014-15. LD.A.R. SUBMITTED THAT AGAINST THE GROSS TAX DEMAND OF RS .24,20,040/- RAISED BY THE AO, ASSESSEE HAS ALREADY DEPOSITED RS.3,63 ,100/- AND THE NET OUTSTANDING DEMAND NOW IS RS.20,56,940/-. 2. BEFORE US LD.A.R. SUBMITTED THAT THE PRESENT TAX DEM AND HAS ARISEN ON ACCOUNT OF ADDITION OF RS.78,40,232/- MADE BY AO. HE SUBMITTED THAT ON THE MERITS, THE ASSESSEE HAS A PRIMA FACIE STRONG / DATE OF HEARING : 16.11.2018 / DATE OF PRONOUNCEMENT:16.11.2018 2 ARGUABLE CASE. HE FURTHER SUBMITTED THAT ASSESSEE HAS ALREADY PAID 15% OF THE DISPUTED TAX DEMAND AND IS FURTHER WILLING TO DEPOSIT SUCH AMOUNT AS DEEMED FIT BY THE TRIBUNAL. HE THEREFORE SUBMIT TED THAT THE ENTIRE OUTSTANDING TAX DEMAND BE STAYED AND THAT AN EARLY HEARING BE GRANTED. LD. D.R. ON THE OTHER HAND OPPOSED THE STAY APPLICATION AND SUBMITTED THAT THE ASSESSEE HAS NOT DEMONSTRATED THE FINANCIAL HARDSHIP AND THEREFORE ASSESSEE DOES NOT DESERVE STA Y. HE THEREAFTER SUBMITTED THAT THE ASSESSEE BE ASKED TO DEPOSIT ATLEAS T 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, WE ARE OF THE VIEW THAT ASSESSEE HAS A PRIMA FACIE CASE, BALANCE OF CONVENIE NCE 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.5 LACS BY 30-11-2018. B) THE ASSESSEE SHALL FURNISH PROOF OF PAYMENTS OF TAX AT T HE TIME OF HEARING. 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 16-01-2019. SINCE THIS DATE IS PRONOUNCED IN THE OPEN COURT FOR WHICH BOTH THE PARTIE S HAVE AGREED, NO SEPARATE NOTICE OF HEARING IS THEREFORE REQUIRE D TO BE ISSUED BY THE REGISTRY. D) THAT THE ASSESSEE SHALL NOT SEEK FRIVOLOUS ADJOURNMENT. IF A PAPER BOOK IS DESIRED TO BE FILED BY THE ASSESSEE, THEN T HE SAME 3 SHOULD BE SUBMITTED WELL IN ADVANCE AS PRESCRIBED IN ITAT RULES. E) IN CASE OF BREACH OF THE ABOVE CONDITIONS, THE STAY GR ANTED SHALL AUTOMATICALLY GET VACATED UNLESS DIRECTED OTHERWISE BY THE BENCH. 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/- ( VIKAS AWASTHY ) ( ANIL CHATURVEDI ) / JUDICIAL MEMBER / ACCOUNTANT MEMBER PUNE; DATED : 16 TH NOVEMBER, 2018. SATISH / COPY OF THE ORDER FORWARDED TO : 1 . / THE APPELLANT 2. / THE RESPONDENT 3 . 4. 5. 6. CIT(A)-3, PUNE. PR.CIT-2, PUNE. , , / DR, ITAT, A PUNE; / GUARD FILE. / BY ORDER , // TRUE COPY // / SR. PRIVATE SECRETARY , / ITAT, PUNE.