Shri Rakesh Agarwal, Nagaon V. Income Tax Officer, Ward-2, Nagaon

SA 16/GTY/2018

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 0530 (ITAT-GUWAHATI)
• Duration Of Justice: 2 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-03-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2015-2016
• Appeal Filed On: 02-01-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Application of stay

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL GAUHATI E COURT, AT KOLKATA [BEFORE SHRI P.M. JAGTAP, VICE PRESIDENT & SHRI S.S. VISWANETHRA RAVI, JM] S.A. NO. 16/GAU/2018 (ARISING OUT OF ITA NO. 356/GAU/2018) ASSESSMENT YEARS: 2015-16 SHRI RAKESH AGARWAL......................APPELLANT C/O. SATYANARAYAN AGARWAL DACCAPATTY NAGAON 782 001 [PAN : ACWPA 5690 C] ITO, WARD 2, NAGAON.........................................RESPONDENT APPEARANCES BY: SHRI RAHUL JAIN, CA, APPEARING ON BEHALF OF THE ASSESSEE. SHRI PRADIP SENGUPTA, JCIT, SR. DR APPEARING ON BEHALF OF THE REVENUE. DATE OF CONCLUDING THE HEARING : MARCH 08, 2019 DATE OF PRONOUNCING THE ORDER : MARCH 8 TH , 2019 O R D E R PER S.S. VISWANETHRA RAVI, JM BY THIS STAY APPLICATION, THE ASSESSEE IS SEEKING STAY OF OUTSTANDING DEMAND OF RS. 22,71,570/- FOR ASSESSMENT YEAR 2015-16. 2. WE HAVE HEARD THE ARGUMENTS OF BOTH THE SIDES AND ALSO PERUSED THE RELEVANT MATERIAL AVAILABLE ON RECORD. THE CONTENTION OF THE LD. A/R IS THAT IN THE SECOND WEEK OF FEBRUARY, THE ASSESSING OFFICER ATTACHED THE BANK ACCOUNT OF THE ASSESSEE AND RECOVERED ALMOST 80% OF THE DEMANDED OUTSTANDING TAX LIABILITY. HE FURTHER SUBMITTED THAT THE ASSESSEE IS IN A FINANCIAL CRISIS BECAUSE OF THE ATTACHMENT OF THE BANK ACCOUNT AS HE IS NOT IN A POSITION TO CONDUCT BUSINESS. FURTHER REVOCATION OF BANK ATTACHMENT DOES NOT IN ANY WAY PREJUDICE THE CASE OF THE DEPARTMENT. AS REGARDS OF 2 S.A. NO. 16/GAU/2018 (ARISING OUT OF ITA NO. 356/GAU/2018) ASSESSMENT YEARS: 2015-16 SHRI RAKESH AGARWAL ATTACHMENT OF BANK ACCOUNT AMOUNT RECOVERY THEREON, THE LD. D/R DID NOT CONTROVERT THE SAME. WE FIND FORCE IN THE ARGUMENTS OF THE LD. A/R THAT HE HAS A FAIR CHANCE OF GETTING SUCCESS IN THE MAIN APPEAL BEFORE THIS TRIUBNAL. IN VIEW OF THE FACTS AND CIRCUMSTANCES AND SUBMISSIONS MADE BY THE LD. A/R AND LD. D/R, WE DIRECT THE ASSESSING OFFICER TO REVOKE THE ATTACHMENT OF THE BANK ACCOUNT OF THE ASSESSEE HENCEFORTH AND GRANT STAY ON REMAINING AMOUNT FOR A PERIOD OF SIX MONTHS OR DISPOSAL OF MAIN APPEAL WHICHEVER IS EARLIER. 3. IN THE RESULT, THE STAY APPLICATION OF THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED ON 8 TH MARCH, 2019 SD/- SD/- (P.M. JAGTAP) (S.S.VISWANETHRA RAVI) VICE PRESIDENT JUDICIAL MEMBER DATED: 08/03/2019 S.C, SR. PS 3 S.A. NO. 16/GAU/2018 (ARISING OUT OF ITA NO. 356/GAU/2018) ASSESSMENT YEARS: 2015-16 SHRI RAKESH AGARWAL COPY OF ORDER FORWARDED TO: 1. SHRI RAKESH AGARWAL C/O. SATYANARAYAN AGARWAL DACCAPATTY NAGAON 782 001 2. ITO, WARD 2, NAGAON 3. THE CIT(A) 4. THE CIT 5. DR TRUE COPY, BY ORDER, SR. P.S. / H.O.O. ITAT, GAUHATI BENCHES