M/s, Joy Bajaj, Jaipur V. Assistant Commissioner of Income Tax, Ward -4(2), Jaipur

SA 14/JPR/2019

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 3789 (ITAT-JAIPUR)
• Duration Of Justice: 2 month(s) 15 day(s)
• Appeal Type: Income Tax (International Taxation) Appeal
• Pronouncement Date: 29-04-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2015-2016
• Appeal Filed On: 13-02-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VARINDER MEHTA
• Assessee Lawyers: RAJIV SOGANI
• Keywords: Application of stay
• Section: 56

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 FOE FLAG ;KNO ] YS[KK LNL; DS LE{K BEFORE: SHRI VIJAY PAL RAO, JM & SHRI VIKRAM SINGH YADAV, AM S.A. NO. 14/JP/2019 (ARISING OUT OF ITA NO. 118/JP/2019) FU/KZKJ.K O'KZ @ ASSESSMENT YEAR : 2015-16 JOY BAJAJ, 1/567, VIDHYADHAR NAGAR, JAIPUR- 302029 CUKE VS. A.C.I.T. WARD 4(2), JAIPUR. LFKK;H YS[KK LA-@THVKBZVKJ L A-@ PAN/GIR NO.: AHIPB 7102 M VIHYKFKHZ @ APPELLANT IZR;FKHZ @ RESPONDENT FU/KZKFJRH DH VKSJ LS @ ASSESSEE BY : SHRI RAJIV SOGANI (CA) JKTLO DH VKSJ LS @ REVENUE BY : SHRI VARINDER MEHTA (CIT). LQUOKBZ DH RKJH[ K@ DATE OF HEARING : 25/02/2019 MN~?KKS'K.KK DH RKJH[ K @ DATE OF PRONOUNCEMENT : 25/02/2019 VKNS'K @ ORDER PER: VIJAY PAL RAO, J.M. BY WAY OF THIS STAY PETITION, THE ASSESSEE IS SEEKI NG STAY AGAINST THE OUTSTANDING DEMAND OF RS. 16,72,610/- ARISING FROM THE ADDITION MADE BY THE ASSESSING OFFICER U/S 56 (2)(VII) OF THE INCOME TAX ACT, 1961 (IN SHORT THE ACT) ON ACCOUNT OF PURCHASE CONSIDERATION PAID BY THE ASSESSEE FOR IMMOVABLE PROPERTY. 2. WE HAVE HEARD THE LD AR OF THE ASSESSEE AS WELL A S THE LD CIT-DR AND CONSIDERED THE RELEVANT MATERIAL ON RECORD. THE LD AR HAS CONTENDED S.A. NO. 14/JP/2019 JOY BAJAJ VS. ACIT 2 THAT THE ASSESSEE HAS ALREADY PAID RS. 4,18,200/- I .E. 20% OF THE TOTAL DEMAND OF RS. 20,90,810/-. THE ASSESSEE HAS A GOOD PRIMA FACIE CASE ON MERITS AND THEREFORE, IT WAS PLEADED THAT THE BALANC E DEMAND MAY BE STAYED TILL DISPOSAL OF THE APPEAL OF THE ASSESSEE. THE LD AR HAS FURTHER SUBMITTED THAT THE ASSESSING OFFICER HAS ATTACHED T HE BANK ACCOUNT OF THE ASSESSEE AS WELL AS MINOR DAUGHTER OF THE ASSESSEE. 3. ON THE OTHER HAND THE LD. CIT-DR HAS OBJECTED TO THE STAY AND SUBMITTED THAT THE ASSESSEE SHOULD PAID AT LEAST 50 % OF THE TOTAL DEMAND. 4. HAVING CONSIDERED THE RIVAL SUBMISSIONS AS WELL A S THE RELEVANT MATERIAL ON RECORD WE NOTE THAT OUT OF THE TOTAL DE MAND OF RS. 20.90 LACS, THE ASSESSEE HAS ALREADY PAID RS. 4,18,200/- WHICH IS 20% OF THE TOTAL DEMAND. WE FURTHER NOTE THAT THE ASSESSING OFFICER HAS ALREADY ATTACHED THE BANK ACCOUNT OF THE ASSESSEE AND HIS CHILDREN. SINCE THE ADDITION MADE BY THE ASSESSING OFFICER IS BY APPLYING THE DEEMING PROVISIONS AND THEREFORE HAVING REGARD TO THE FACTS AND CIRCUMSTAN CES OF THE CASE WE ARE OF THE CONSIDERED VIEW THAT SUBJECT TO FURTHER PAYME NT OF RS. 1.00 LAC ON OR BEFORE 15/3/2019, THE BALANCE OUTSTANDING DEMAND DESERVES TO BE STAYED. ACCORDINGLY, SUBJECT TO THE PART PAYMENT AS DIRECTED BY US, THE BALANCE OUTSTANDING DEMAND IS STAYED FOR A PERIOD O F 180 DAYS OR TILL DISPOSAL OF THE APPEAL. THE APPEAL OF THE ASSESSEE I S ALREADY FIXED FOR S.A. NO. 14/JP/2019 JOY BAJAJ VS. ACIT 3 HEARING ON 22/4/2019. SINCE THE MATTER IS NOW BE LIS TED IN THE CATEGORY OF STAY GRANTED, THEREFORE, THE DATE OF HEARING IS PRE PONED FROM 22/4/2019 TO 18/3/2019. THE NEXT DATE OF HEARING AS PREPONED BY U S HAS BEEN ANNOUNCED IN THE OPEN COURT AND HAS BEEN NOTED DOWN BY BOTH THE PARTIES, THEREFORE, NO SEPARATE NOTICE SHALL BE ISS UED IN THIS REGARD. THE ASSESSING OFFICER IS DIRECTED TO RELEASE THE BANK A CCOUNT OF THE ASSESSEE FROM ATTACHMENT. 5. IN THE RESULT, THE STAY APPLICATION IS ALLOWED SU BJECT TO PART PAYMENT. ORDER PRONOUNCED IN THE OPEN COURT ON 25 TH FEBRUARY, 2019. SD/- SD/- FOE FLAG ;KNO FOT; IKY JKO (VIKRAM SINGH YADAV) (VIJAY PAL RAO) YS[KK LNL;@ ACCOUNTANT MEMBER U;KF;D LNL;@ JUDICIAL MEMBER TK;IQJ @ JAIPUR FNUKAD @ DATED:- 25 TH FEBRUARY, 2019. *RANJAN VKNS'K DH IZFRFYFI VXZSFKR @ COPY OF THE ORDER FORWARDED TO: 1. VIHYKFKHZ @ THE APPELLANT- SHRI JOY BAJAJ, JAIPUR. 2. IZR;FKHZ @ THE RESPONDENT- THE A.C.I.T., WARD 4(2), JAIPUR. 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. 14/JP/2019) VKNS'KKUQLKJ @ BY ORDER, LGK;D IATHDKJ @ ASST. REGISTRAR