SHRI KRISHNA YADAV, JAIPUR V. DEPUTY COMMISSIONER OF INCOME TAX, JAIPUR

SA 13/JPR/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 3661 (ITAT-JAIPUR)
• Duration Of Justice: 1 year(s) 1 month(s) 9 day(s)
• Appeal Type: Income Tax (International Taxation) Appeal
• Pronouncement Date: 29-04-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2014-2015
• Appeal Filed On: 20-03-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VARINDER MEHTA
• Assessee Lawyers: S L PODDAR
• Keywords: Application of stay

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR JH FOT; IKY JKO] U;KF;D LNL; ,OA JH HKKXPAN] YS[KK LNL; DS LE{K BEFORE: SHRI VIJAY PAL RAO, JM & SHRI BHAGCHAND, A M S.A. NO. 13/JP/2018 (ARISING OUT OF ITA NO. 987/JP/2017 FU/KZKJ.K O'KZ @ ASSESSMENT YEAR : 2014-15 KRISHNA YADAV, 116-119, ANAND NAGAR, SIRSI ROAD, JAIPUR. CUKE VS. D.C.I.T. CENTRAL CIRCLE-4, JAIPUR. LFKK;H YS[KK LA-@THVKBZVKJ L A-@ PAN/GIR NO.: AADPY 8394 A VIHYKFKHZ @ APPELLANT IZR;FKHZ @ RESPONDENT FU/KZKFJRH DH VKSJ LS @ ASSESSEE BY : SHRI S.L. PODDAR (ADV) JKTLO DH VKSJ LS @ REVENUE BY : SHRI VARINDER MEHTA (CIT). LQUOKBZ DH RKJH[ K@ DATE OF HEARING : 23/03/2018 MN~?KKS'K.KK DH RKJH[ K @ DATE OF PRONOUNCEMENT : 23/03/2018 VKNS'K @ ORDER PER: BHAGCHAND, A.M. THE ASSESSEE HAS FILED THE PRESENT STAY PETITION ON 20/03/2018 AGAINST THE DEMAND, WHICH HAS BEEN RAISED BY THE DEP ARTMENT FOR A.Y. 2014-15. 2. THE ASSESSEE IS AN INDIVIDUAL AND DERIVED INCOME FROM RENT, INTEREST, CAPITAL GAIN AND CIVIL CONTRACT WORK. THE A SSESSEE HAS FURNISHED S.A. NO. 13/JP/2018 KRISHNA YADAV VS. DCIT 2 HIS RETURN OF INCOME DECLARING TOTAL INCOME OF RS. 13,51,13,640/- INCLUDING THE SURRENDERED INCOME OF RS. 10,01,00,00 0/-. THE ASSESSING OFFICER HAS COMPLETED THE ASSESSMENT U/S 143(3)/153 B(1)(B) OF THE INCOME TAX ACT, 1961 (IN SHORT THE ACT) BY ACCEPTING THE RETURNED INCOME. THE ASSESSING OFFICER HAS LEVIED THE PENALTY OF RS. 1,00,10,000/- U/S 271AAB(1)(A) OF THE ACT. THE ASSES SEE HAS FILED THIS STAY APPLICATION TO KEEP THE DEMAND IN ABEYANCE. 3. WHILE PLEADING ON BEHALF OF THE ASSESSEE, THE LD AR HAS SUBMITTED THAT THE ASSESSEE HAS PAID RS. 40,19,300/ - WITH VARIOUS CHALLANS PLACED IN THE STAY APPLICATION, WHICH IS A BOUT 40% OF THE TOTAL DEMAND AND REQUESTED THAT THE BALANCED AMOUNT MAY B E KEPT IN ABEYANCE. HE FURTHER PLEADED THAT THE REVENUE AUTHO RITIES HAVE NOT ENTERTAINED THE STAY APPLICATION OF THE ASSESSEE. TH E ASSESSEE IS NOT IN POSITION TO DEPOSIT THE HUGE AMOUNT AND THE REVENUE HAS ATTACHED ALL THE BANK ACCOUNTS OF THE ASSESSEE. THE BUSINESS OF T HE ASSESSEE HAS COMPLETELY COME AT HALT. THE LD AR PRAYED THAT AN OR DER MAY BE PASSED TO STAY THE BALANCE DEMAND TILL THE DISPOSAL OF THE APPEAL. IT WAS ALSO INFORMED TO THE BENCH THAT THE APPEAL OF THE ASSESS EE IS FIXED FOR HEARING ON 26/3/2018. HE ALSO SUBMITTED THAT THE AS SESSEE SHALL COOPERATE IN FINALIZATION OF THE APPEAL AT THE EARL IEST. S.A. NO. 13/JP/2018 KRISHNA YADAV VS. DCIT 3 4. ON THE OTHER HAND, THE LD CIT DR HAS PLEADED THAT THE ASSESSEE MAY BE ASKED TO DEPOSIT UP TO 50% OF THE DEMAND RAI SED. 5. AFTER HEARING BOTH THE SIDES, CONSIDERING THE VA RIOUS ASPECTS INCLUDING THE HARDSHIP CAUSED TO THE ASSESSEE BY AT TACHMENT OF THE BANK ACCOUNTS AND IN VIEW OF THE FACT THAT 40% OF DEMAND RAISED IS ALREADY PAID BY THE ASSESSEE WE ORDER AS UNDER: (I) BALANCE OF DEMAND IS STAYED FOR 180 DAYS. (II) THE ASSESSING OFFICER WILL RELEASE ALL THE ATTA CHED BANK ACCOUNTS OF THE ASSESSEE. (III) THE ASSESSEE SHALL COOPERATE IN FINALIZATION OF APPEAL. 6. IN THE RESULT, THE STAY APPLICATION OF THE ASSES SEE IS ALLOWED IN THE ABOVE TERMS. ORDER PRONOUNCED IN THE OPEN COURT ON 23/03/2018. SD/- SD/- FOT; IKY JKO HKKXPAN (VIJAY PAL RAO) (BHAGCHAND) U;KF;D LNL;@ JUDICIAL MEMBER YS[KK LNL;@ ACCOUNTANT MEMBER TK;IQJ @ JAIPUR FNUKAD @ DATED:- 23 RD MARCH, 2018. *RANJAN VKNS'K DH IZFRFYFI VXZSFKR @ COPY OF THE ORDER FORWARDED TO: 1. VIHYKFKHZ @ THE APPELLANT- SHRI KRISHNA YADAV, JAIPUR. 2. IZR;FKHZ @ THE RESPONDENT- THE D.C.I.T., CENTRAL CIRCLE-4, JAIPU R. S.A. NO. 13/JP/2018 KRISHNA YADAV VS. DCIT 4 3. VK;DJ VK;QDR @ CIT 4. VK;DJ VK;QDRVIHY @ THE CIT(A) 5. FOHKKXH; IZFRFUF/K] VK;DJ VIHYH; VF/KDJ.K] T;IQJ @ DR, ITAT, JAIPUR 6. XKMZ QKBZY @ GUARD FILE (S.A. 13/JP/2018) VKNS'KKUQLKJ @ BY ORDER, LGK;D IATHDKJ @ ASST. REGISTRAR