The Archdiocesan Board of Education, Bangalore V. Deputy Commissioner Of Income Tax (Exemptions) Circle-1, Bangalore

SA 135/BANG/2019

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 6194 (ITAT-BANGALORE)
• Duration Of Justice: 1 month(s) 7 day(s)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 01-05-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2008-2009
• Appeal Filed On: 25-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: PADAMCHAND KHINCHA
• Section: 234B; 147; 148

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI JASON P. BOAZ , ACCOUNTANT MEMBER SP NO.135/BANG/2019 [IN I TA NO. 585/BANG/2019] ASSESSMENT YEAR : 2008 - 09 M/S. ARCHDIOCESAN BOARD OF EDUCATION, ARCHBISHOPS HOUSE, NO.75, MILLERS ROAD, BENSON TOWN, BANGALORE 560 046. PAN: AABAT 5296P VS. THE DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTIONS), CIRCLE 1, BANGALORE. APP EL L ANT RESPONDENT APP ELL ANT BY : SHRI PADAM CHAND KHINCH A, CA R E SPONDENT BY : DR. P.V. PRADEEP KUMAR, ADDL.CIT(DR)( ITAT), BENGALURU. DATE OF HEARING : 03. 0 5 . 201 9 DATE OF PRONOUNCEMENT : 03 . 0 5 . 201 9 O R D E R PER N V VASUDEVAN, VICE PRESIDENT THIS IS AN APPLICATION FILED BY THE ASSESSEE PRA YING FOR AN ORDER OF STAY FOR RECOVERY OF OUTSTANDING DEMAND OF RS.2,63, 34,659 COMPRISING OF TAX OF RS.1,34,36,051 AND INTEREST U/S. 234B OF A S UM OF RS.1,28,98,609. OUT OF THE OUTSTANDING DEMAND, THE ASSESSEE HAS ALR EADY PAID A SUM OF RS.39,50,200 FROM TAX OF ITS INCOME. 2. THE ASSESSEE CLAIMED EXEMPTION U/S. 11, OR IN TH E ALTERNATIVE, EXEMPTION U/S. 10(23C)(AD) OR 10(23C)(VI) OF THE I NCOME-TAX ACT, 1961 [THE ACT]. THE PLEA OF THE ASSESSEE WAS THAT IT WAS RUNNING EDUCATIONAL SP NO.135/BANG/2019 PAGE 2 OF 3 INSTITUTION AND ITS INCOME WAS EXEMPT. THIS WAS NO T ACCEPTED BY THE REVENUE AUTHORITIES, AGAINST WHICH THE ASSESSEE HAS PREFERRED APPEAL THE PRESENT APPEAL. THE ASSESSEE HAS CHALLENGED THE VA LIDITY OF INITIATION OF PROCEEDINGS U/S. 148 OF THE ACT ON THE GROUND THAT PROVISO TO SECTION 147 OF THE ACT APPLIES AND THE CONDITION PRECEDENT FOR REO PENING THE ASSESSMENT IN THE CASE OF ASSESSEE IS NOT SATISFIED. 3. WE HAVE HEARD THE RIVAL SUBMISSIONS. TAKING INT O CONSIDERATION 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 DIRECT THE ASSESSEE TO PAY A SUM OF RS.11 LAKHS ON OR BEFO RE 31 ST MAY, 2019. THERE SHALL BE AN ORDER OF STAY OF RECOVERY OF OUTS TANDING DEMAND FOR A PERIOD OF SIX MONTHS, OR TILL THE DISPOSAL OF THE A PPEAL, WHICHEVER IS EARLIER. 4. THE APPEAL IS DIRECTED TO BE FIXED OUT OF TURN F OR HEARING ON 12 TH JUNE, 2019. THE DATE WAS ANNOUNCED IN THE OPEN CO URT AND HENCE NO NOTICE WILL BE SENT TO THE PARTIES. 5. IN THE RESULT, THE STAY PETITION IS ALLOWED AS I NDICATED ABOVE. PRONOUNCED IN THE OPEN COURT ON THIS 03 RD DAY OF MAY, 2019. SD/- SD/- ( JASON P. BOAZ ) ( N.V . VASU DEVAN ) ACCOUNTANT MEMBER VICE PRESIDENT BANGALORE, DATED, THE 3 RD MAY, 2019. / D ESAI S MURTHY / SP NO.135/BANG/2019 PAGE 3 OF 3 COPY TO: 1. THE APP ELLANT 2. THE R ESPONDENT 3. THE CIT 4. THE CIT(A) 5 . THE DR, ITAT, BANGALORE. 6. GUA R D F ILE BY ORDER ASSISTANT REGISTRAR, ITAT, BANGALORE.