Appeal details
Counselvise Citation
[2019] 117 COUNSELVISE.COM (IT) 6251 (ITAT-AMRITSAR)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
5 month(s) 23 day(s)
Appellant
Respondent
Appeal Type
Income Tax (Transfer Pricing) Appeal
Pronouncement Date
29-04-2019
Appeal Filed By
Assessee
Order Result
Allowed
Bench Allotted
DB
Assessment Year
2013-2014
Appeal Filed On
06-11-2018
Judgement Text
IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR BEFORE SH. SANJAY ARORA, ACCOUNTANT MEMBER AND SH. N.K.CHOUDHRY, JUDICIAL MEMBER S.A. NO.15(ASR)/2018 (ARISING OUT OF ITA NO.21(ASR)/2018) ASSESSMENT YEAR: 2013-14 M/S. SRINAGAR DEVELOPMENT AUTHORITY, C/O BHAT DURANI & ASSOCIATES (CHARTERED ACCOUNTANT), FLAT NO.207, 1ST FLOOR, YATRI BHAWAN-II, DURGA NAG, DALGATE, SRINAGAR, J&K. [PAN: AAALS 2033H] VS. ASST. CIT, CIRCLE-3, SRINAGAR. (APPELLANT) (RESPONDENT) APPELLANT BY: SH. UPENDER BHAT (LD. CA) RESPONDENT BY: SH. ALOK KUMAR (LD. CIT-DR) DATE OF HEARIN G: 16/11/2018 DATE OF PRONOUNCEMENT : 27/ 11/2018 ORDER PER N.K.CHOUDHRY, JM: BY THIS ORDER, WE SHALL DISPOSE OFF THE AFOREMENTIONED STAY APPLICATION, BY WHICH THE ASSESSEE HAD PRAYED FOR STAY OF RECOVERY PROCEEDINGS INITIATED AGAINST THE PETITIONER/ASSESSEE AS WE LL AS RESTRAINING THE ASSISTANT COMMISSIONER OF INCOME TAX OR CIT(A) OR THE IR SUBORDINATE FROM TAKING ANY COERCIVE ACTION QUA RECOVERY OF TAX, IN TEREST AND PENALTY LEVIED OR LEVIABLE FOR THE RELEVANT ASSESSMENT YEAR. S.A NO.15(ASR)/2018 ARISING OUT OF ITA NO.21(ASR)/2018 ASST. YEAR:2013-14 2 2. AT THE TIME OF HEARING OF THE STAY APPLICATION, ON BEING ASKED BY THE BENCH, THE LD. COUNSEL OF THE ASSESSEE HAS AGREED TO DEPO SIT 50% OF THE OUTSTANDING DEMAND BEFORE THE NEXT DATE OF HEARING I .E 12.12.2018. THE LD. DR ALSO AGREED TO THE AFORESAID PROPOSAL, HENCE, CON SIDERING THE PECULIAR FACTS AND CIRCUMSTANCES AS THE ASSESSEE HAS ALREADY UNDERTAKEN TO DEPOSIT 50% OF THE DEMANDED AMOUNT BEFORE THE NEXT DATE OF HEARING, THEREFORE, WE FEEL IT APPROPRIATE TO DIRECT THE DEPARTMENT NOT TO TAKE ANY COERCIVE MEASURES AGAINST THE ASSESSEE/APPLICANT QUA OUTSTANDING DEM AND. ACCORDINGLY, THE STAY IS GRANTED FOR A PERIOD OF SIX M ONTHS I.E. UPTO 26 TH MAY 2019 OR TILL DISPOSAL OF THE APPEAL WHICHEVER IS EARLIE R. 3. IN THE RESULT, THE STAY APPLICATION IS ALLOWED. SD/- SD/ - (SANJAY ARORA) (N.K.CHOUDHRY) ACCOUNTANT MEMBER JUDI CIAL MEMBER DATED: 27.11.2018 /PK/ PS. COPY OF THE ORDER FORWARDED TO: (1) M/S. SRINAGAR DEVELOPMENT AUTHORITY, SRINA GAR, J&K. (2) THE ASST. CIT, CIRCLE-3, SRINAGAR. (3) THE CIT(A)-J&K, JAMMU. (4) THE CIT CONCERNED (5) THE SR DR, I.T.A.T., AMRITSAR TRUE COPY BY ORDER
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