RAJENDRA KUMAR JAIN, Jaipur V. ACIT, Jaipur

SA 18/JPR/2017

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 3616 (ITAT-JAIPUR)
• Duration Of Justice: 1 year(s) 4 month(s) 25 day(s)
• Appeal Type: Income Tax (International Taxation) Appeal
• Pronouncement Date: 29-04-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2007-2008
• Appeal Filed On: 04-12-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: VARINDER MEHTA CIT DHK
• Assessee Lawyers: S L PODDAR
• Keywords: Search and seizure; Application of stay
• Section: 143(3); 147; 132; 2

Judgement Text

VK;DJ VIHYH; VF/KDJ.K] T;IQJ U;K;IHB] T;IQJ IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHE S, JAIPUR JH FOT; IKY JKO] U;KF;D LNL; ,OA JH FOE FLAG ;KN O] YS[KK LNL; DS LE{K BEFORE: SHRI VIJAY PAL RAO, JM AND SHRI VIKRAM SIN GH YADAV, AM STAY APPLICATIONS NOS. 20, 18, 21 & 19/JP/2017 (ARISING OUT OF ITA NOS. 519, 293, 521 & 3 78/JP/2017) FU/KZKJ.K O'K Z@ ASSESSMENT YEARS : 2007-08, 2009-10, 2010-11 & 2014-15. SHRI RAJENDRA KUMAR JAIN, D-23-25, PREM BHAWAN, LAL BAHADUR NAGAR, J.L.N. MARG, JAIPUR. CUKE VS. ACIT, CENTRAL CIRCLE-1, JAIPUR. LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN NO. AATPJ 5294 N VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT FU/KZKFJRH DH VKSJ LS@ ASSESSEE BY : SHRI S.L PODDAR (ADVOCATE) JKTLO DH VKSJ LS@ REVENUE BY : SHRI VARINDER MEHTA (CIT) LQUOKBZ DH RKJH[K@ DATE OF HEARING : 15.12.2017. ?KKS'K .KK DH RKJH[K@ DATE OF PRONOUNCEMENT : 18/12/2017. VKNS'K@ ORDER PER SHRI VIKRAM SINGH YADAV, AM THESE STAY PETITIONS HAVE BEEN FILED BY THE ASSESS EE AGAINST THE ORDER PASSED BY THE ASSESSING OFFICER FOR AY 2007-08, AY 2009-10, AY 2010-11 & AY 2014-15 RAISING A DEMAND OF RS. 60,02,445, RS. 30,36,702, RS. 52,53,792 AND RS. 59,92,752/- RESPECTIVELY TOTALLING RS. 2,02 ,85,691/- PURSUANCE TO ASSESSMENT ORDER PASSED U/S 147 R.W.S. 143(3), SECT ION 143(3) R.W.S 153(A), SECTION 143(3) R.W.S. 153B(1)(B) OF INCOME TAX THE ACT. 2. THE LD. A/R SUBMITTED THAT THE REVENUE AUTHORITI ES HAD CARRIED OUT SEARCH AND SEIZURE OPERATION U/S 132 OF THE ACT ON 23.05.2013 AT THE 2 SA NOS. 20, 18, 21 & 19/JP/2017. SHRI RAJENDRA KUMAR JAIN. RESIDENTIAL AND BUSINESS PREMISES OF SHRI MADAN MOH AN GUPTA AND THE ASSESSEE AND BASED ON THE STATEMENT OF SHRI MADAN M OHAN GUPTA, THE NOTICE WAS ISSUED TO THE ASSESSEE AND THEREAFTER THE ADDIT ION WAS MADE IN THE HANDS OF THE ASSESSEE ON PROTECTIVE BASIS. THEREAFTER, O N APPEAL, THE LD. CIT(A) CONFIRMED THE ADDITION ON SUBSTANTIVE BASIS. IT WA S SUBMITTED THAT NO INCRIMINATING DOCUMENT WAS FOUND AT THE PREMISES OF THE ASSESSEE AND THE ADDITION HAS BEEN MADE ON THE BASIS OF STATEMENT OF SHRI MADAN MOHAN GUPTA WHO HAS CHANGED HIS STAND SEVERAL TIMES AND T HEREFORE ASSESSEE HAS A PRIMA FACIE CASE IN HIS FAVOUR. IT WAS SUBMITTED T HAT SIMILAR POSITION EXISTS IN EACH OF THE YEARS UNDER CONSIDERATION. 3. IT WAS FURTHER SUBMITTED THAT AGAINST THE TOTAL TAX AND INTEREST DEMAND OF RS. 2.02 CRORES, THE ASSESSEE HAS ALREADY DEPOSI TED RS. 71.93 LACS AND FURTHER SUM OF RS. 20 LACS WAS DEPOSITED ON 12/12/2 017. IT WAS ACCORDINGLY SUBMITTED THAT ASSESSEE HAS ALREADY DEPOSITED RS. 9 1.93 AND THE BALANCE DEMAND MAY BE STAYED TILL THE DISPOSAL OF APPEAL. 4. THE LD. D/R HAS OPPOSED THE STAY PETITION IN ALL THESE YEARS AND SUBMITTED THAT INSTEAD OF STAYING THE BALANCE DEMAN D, THE ASSESSEE MAY BE GIVEN TIME TO DEPOSIT THE BALANCE DEMAND IN INSTALL MENTS. 5. AFTER HEARING BOTH THE PARTIES, WE FIND THAT OUT OF TOTAL DEMAND OF RS. 2.28 CR., THE ASSESSEE HAS ALREADY DEPOSITED RS. 91 .93 LACS. REGARDING THE ADDITION DEPOSIT OF RS. 20 LACS AS CLAIMED BY THE L D. A/R, THE ASSESSEE IS DIRECTED TO PRODUCE THE NECESSARY EVIDENCE WHICH TH E ASSESSING OFFICER SHALL 3 SA NOS. 20, 18, 21 & 19/JP/2017. SHRI RAJENDRA KUMAR JAIN. VERIFY. FURTHER, THE ASSESSEE IS DIRECTED TO DEPOSI T FURTHER SUM OF RS. 10 LACS AND WHICH SHALL BE DEPOSITED ON OR BEFORE 15/01/201 8 WITH DUE INTIMATION TO THE ASSESSING OFFICER. THE BALANCE DEMAND IS STAYE D TILL 28/02/2018 OR TILL DISPOSAL OF APPEAL, WHICHEVER IS EARLIER. 6. IN THE RESULT, ALL THESE STAY APPLICATIONS OF TH E ASSESSEE ARE DISPOSED OFF WITH ABOVE DIRECTIONS. ORDER PRONOUNCED IN THE OPEN COURT ON 18/12/201 7. SD/- SD/- ( JH FOT; IKY JKO ) ( FOE FLAG ;KNO ( VIJAY PAL RAO) (VIKRAM SINGH YADAV) U;KF;D LNL; / JUDICIAL MEMBER YS[KK LNL; /ACCOUNTANT MEMBER JAIPUR DATED:- 18/12/2017. POOJA/ VKNS'K DH IZFRFYFI VXZSF'KR@ COPY OF THE ORDER FORWARDED TO: 1. THE APPELLANT- SHRI RAJENDRA KUMAR JAIN, JAIPUR. 2. THE RESPONDENT THE ACIT, CENTRAL CIRCLE-1, JAI PUR. 3. THE CIT. 4. THE CIT (4), 5. THE DR, ITAT, JAIPUR 6. GUARD FILE (SA NOS. 20, 18, 21, 19/JP/2017) VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASSISTANT. REGISTRAR