Shri Lokesh Gadia, Jhabua V. ACIT, Ratlam

SA 17/Ind/2019

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 0416 (ITAT-INDORE)
• Duration Of Justice: 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-03-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2010-2011
• Appeal Filed On: 08-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R P MOURYA
• Assessee Lawyers: ARPIT GAUR CAS
• Keywords: Application of stay

Judgement Text

LOKESH KUMAR GADIA SA NO. 17/IND/2019 1 THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE BEFORE HON'BLE KUL BHARAT, JUDICIAL MEMBER AND HON'BLE MANISH BORAD, ACCOUNTANT MEMBER S.A. NO. 17/IND/2019 ARISING OUT OF ITA NO.854/IND/2017 ASSESSMENT YEAR 2010-11 LOKESH KUMAR GADIA, :: APPLICANT 29, NAYAPURA, VILLAGE THANDLA, JHABUA (M.P) VS. ACIT, :: RESPONDENT RATLAM PAN: ABAPG 6401G APPLICANT BY : SHRI ANIL KAMAL GARG & SHRI ARPIT GAUR, CAS RESPONDENT BY : SHRI R.P. MOURYA, SR.DR DATE OF HEARING 0 8 .03 .201 9 DATE OF PRONOUNCEMENT : 0 8 .03 .201 9 O R D E R PER KUL BHARAT, J.M. THIS APPLICATION IS FILED BY THE ASSESSEE SEEKING STAY OF THE DEMAND OF RS. 63,42,133/- FOR THE ASSESSMENT YEAR 2 010-11 INCLUDING INTEREST. LOKESH KUMAR GADIA SA NO. 17/IND/2019 2 2. LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE ASS ESSEE HAS ALREADY PAID RS.33,55,000/- OUT OF TOTAL DEMAND RAI SED. LD. COUNSEL FOR THE ASSESSEE FURTHER STATED THAT THE DE PARTMENT IS PRESSING FOR THE DEMAND AND IS FORCING TO RECOVER T HE SAME. THE ASSESSEE APPREHENDS THAT A COHESIVE ACTION MAY BE T AKEN FOR THE RECOVERY OF DEMAND. THE ASSESSEE HAD FILED AN APPEA L BEFORE THE TRIBUNAL AGAINST THE ABOVE DEMAND AND IS CONFIDENT IN SUCCEEDING IN THE APPEAL WHICH IS PENDING BEFORE THE TRIBUNAL. THEREFORE, THE ASSESSEE HAS NOW SOUGHT STAY OF DEMAND TILL THE DIS POSAL OF APPEAL BY THE TRIBUNAL. 3. ON THE OTHER HAND, THE LD. DEPARTMENTAL REPRESENTAT IVE VEHEMENTLY OPPOSED THE REQUEST OF STAY AND FURTHER SUBMITTED THAT LOOKING TO THE HUGE DEMAND OUTSTANDING, REQUEST FOR DEPOSIT OF SMALL AMOUNT SHOULD NOT BE ACCEPTED AND SUBSTANTIAL AMOUNT IS REQUIRED TO BE DEPOSITED WITH. 4. WE HAVE CAREFULLY EXAMINED THE RECORDS AND FACTS RE ITERATED IN THE STAY APPLICATION AND ARE INCLINED TO STAY THE D EMAND FOR NINETY DAYS FROM THE RECEIPT OF THIS ORDER OR DISPOSAL OF THE APPEAL WHICHEVER EVENT OCCURS EARLIER SUBJECT TO DEPOSIT O F RS.5 LAKHS BEFORE 31.3.2019. LOKESH KUMAR GADIA SA NO. 17/IND/2019 3 5. THE STAY GRANTED TO THE ASSESSEE WILL BE IN OPER ATION ONLY IF THE ASSESSEE FULFILLS THE ABOVE STATED CONDITIONS. THE APPEAL HAS ALREADY BEEN FIXED FOR HEARING AND ADJOURNMENT SHOULD NOT B E SOUGHT UNLESS FOR ANY UNAVOIDABLE CIRCUMSTANCES. 6. THE STAY APPLICATION IS DISPOSED OFF ACCORDINGLY SUBJECT TO CONDITIONS HEREINABOVE. ORDER WAS PRONOUNCED IN THE OPEN COURT ON 08.03.2 019. SD/- SD/- (MANISH BORAD) (KUL BHARAT) ACCOUNTANT MEMBER JUDICIAL MEMBER INDORE: 8 TH MARCH, 2019 /DEV COPY TO: ASSESSEE/AO/PR. CIT/ CIT (A)/ITAT (DR)/GUA RD FILE. BY ORDER ASSTT.REGISTRAR, I.T.A.T., INDORE