Appeal details
Counselvise Citation
[2019] 117 COUNSELVISE.COM (IT) 6185 (ITAT-BANGALORE)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
1 month(s) 9 day(s)
Appellant
Respondent
Appeal Type
Income Tax (Transfer Pricing) Appeal
Pronouncement Date
01-05-2019
Appeal Filed By
Assessee
Order Result
Allowed
Bench Allotted
A
Assessment Year
2015-2016
Appeal Filed On
22-03-2019
Judgement Text
IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI JASON P. BOAZ , ACCOUNTANT MEMBER SP NO.129/BANG/2019 [IN I TA NO. 583/BANG/2019] ASSESSMENT YEAR : 2015 - 16 INDIANOIL SKYTANKING PVT. LTD., FUEL FARM FACILITY, BANGALORE INTERNATIONAL AIRPORT, DEVANAHALLI, BANGALORE 560 300. PAN: AABCI 5709C VS. THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 3(1)(1), BANGALORE. APP EL L ANT RESPONDENT APP ELL ANT BY : SHRI SHARATH RAO, CA R E SPONDENT BY : SHRI T. CHANDRASEKHAR, ADDL.CIT DATE OF HEARING : 27. 0 3 . 201 9 DATE OF PRONOUNCEMENT : 27 . 0 3 . 201 9 O R D E R PER N V VASUDEVAN, VICE PRESIDENT THIS STAY PETITION IS FILED BY THE ASSESSEE SEEK ING AN ORDER OF RECOVERY OF OUTSTANDING DEMAND OF A SUM OF RS.1,15, 74,430 ARISING OUT OF ORDERS OF THE REVENUE AUTHORITIES IN RELATION TO AS SESSMENT YEAR 2015-16. 2. WE HAVE HEARD THE RIVAL SUBMISSIONS. AFTER HEAR ING THE PARTIES ON THE EXISTENCE OF A PRIMA FACIE CASE, BALANCE OF CONVENIENCE AND RELATIVE HARDSHIP, WE ARE OF THE VIEW THAT IT WOULD BE JUST AND APPROPRIATE TO GRANT AN ORDER OF STAY OF RECOVERY OF OUTSTANDING DEMAND FOR A PERIOD OF SIX SP NO.129/BANG/2019 PAGE 2 OF 2 MONTHS FROM THE DATE OF THIS ORDER, OR TILL THE DIS POSAL OF THE APPEAL, WHICHEVER IS EARLIER. THE ASSESSEE IS, HOWEVER, DI RECTED TO PAY A SUM OF RS. 40 LAKHS (RUPEES FORTY LAKHS ONLY) ON OR BEFORE 29.03.2019 TOWARDS THE OUTSTANDING DEMAND. THE AFORESAID PAYMENT WOUL D RESULT IN ASSESSEE HAVING PAID 50% OF THE OUTSTANDING DEMAND OF TAXES. THIS WILL SUFFICIENTLY SAFEGUARD THE INTEREST OF REVENUE. 3. THE APPEAL IS DIRECTED TO BE FIXED, OUT OF TURN, FOR HEARING ON 19.06.2019. SINCE THE DATE WAS ANNOUNCED IN THE OP EN COURT, NO SEPARATE NOTICE OF HEARING WILL BE SENT TO THE PARTIES. 4. IN THE RESULT, THE STAY PETITION IS ALLOWED. PRONOUNCED IN THE OPEN COURT ON THIS 27 TH DAY OF MARCH, 2019. SD/- SD/- ( JASON P. BOAZ ) ( N.V . VASU DEVAN ) ACCOUNTANT MEMBER VICE PRESIDENT BANGALORE, DATED, THE 27 TH MARCH, 2019. / D ESAI S MURTHY / COPY TO: 1 . APPLICANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR, ITAT, BANGALORE.
Mehul