M/s. Theramyt Novobiologics Private Limited, Bengaluru V. Deputy Commissioner of Income Tax, Circle-7(1)(1), Bangaluru

SA 191/BANG/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 6030 (ITAT-BANGALORE)
• Duration Of Justice: 9 month(s) 21 day(s)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 01-05-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2014-2015
• Appeal Filed On: 10-07-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: PADMA MEENAKSHI
• Assessee Lawyers: VARUN S
• Keywords: Opportunity of being heard

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, BANGALORE BENCH B BEFORE SHRI SUNIL KUMAR YADAV , JUDICIAL MEMBER AND SHRI JASON P BOAZ, ACCOUNTANT MEMBER S.P NO.191/BANG/2018 (IN ITA NO.1973/BANG/201 8) (ASST. YEAR 2014-15 ) M/S THERAMYT NOVOBIOLOGICS PVT. LTD., 118/119, GROUND FLOOR, PRASAD ENCLAVE, 2 ND STAGE 5 TH MAIN, YESHWANTHPUR, BENGALURU. . APPELLANT VS. THE DY. COMMISSIONER OF INCOME-TAX, CIRCLE-7(1)(1), BENGALURU. . RESPONDENT APPELLANT BY : SHRI VARUN S, C.A RESPONDENT BY : SMT. PADMAMEENAKSHI, JCIT DATE OF HEARING : 3-8-2018 DATE OF PRONOUNCEMENT : 3-8-2018 O R D E R PER SHRI JASON P BOAZ, ACCOUNTANT MEMBER : THIS STAY PETITION (SP) FILED BY THE PETITIONER IS IN RESPECT OF THE APPEAL IN ITA NO.1973/BANG/2018 FOR ASST. YE AR 2014-15, SEEKING STAY ON RECOVERY OF OUTSTANDING DEMAND OF RS.37,36,388/-. 2. IN THE S.P, THE PETITIONER, INTER ALIA, CONTENDS THAT APART FROM HAVING A GOOD CASE ON MERITS, THIS S.P HAS BEEN FIL ED BECAUSE SP NO.191 /B/18 2 REVENUE AUTHORITIES HAVE INITIATED RECOVERY PROCE EDINGS WITHOUT PROVIDING SUFFICIENT OPPORTUNITY OF BEING HEARD. 3. WHEN THE S.P WAS CALLED FOR HEARING ONE SHRI VAR UN S C.A, APPEARED ON BEHALF OF THE PETITIONER AND FILED A LE TTER DATED 2/8/2018 REQUESTING FOR ADJOURNMENT OF HEARING OF T HE S.P FOR 20 DAYS AS THE AUTHORIZED REPRESENTATIVE REPRESENTING THE PETITIONER IS OUT OF STATION. HOWEVER, WE FIND THAT NO LETTER OF AUTHORITY OR P.O.A HAS BEEN FILED BY SHRI VARUN OR MS. KAVIATHA P., AUTHORIZING THEM TO APPEAR ON BEHALF OF PETITIONER. WE HAVE AL SO OBSERVED FROM A PERUSAL OF THE RECORD BEFORE US, THAT NO EVI DENCE HAS BEEN FILED TO ESTABLISH EITHER THAT THERE WAS ANY IMMINE NT THREAT OF COERCIVE STEPS BEING TAKEN BY REVENUE TO RECOVER TH E OUTSTANDING TAX DEMAND OR THAT THE ASSESSEE WAS IN ANY WAY FACI NG FINANCIAL DIFFICULTY. IN THE FACTUAL MATRIX OF THE CASE, AS DISCUSSED ABOVE, WE REJECT THE REQUEST FOR ADJOURNMENT FILED AND ACCORD INGLY DISMISS THE STAY PETITION FILED BY THE PETITIONER. 4. IN THE RESULT, THE STAY PETITION IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 3RD AUGUST, 2018 . SD/- SD/- (SUNIL KUMAR YADAV) (JASON P BOAZ) JUDICIAL MEMBER ACCOUNTANT MEMBE R BANGALORE DATED : 3/8/2018 VMS SP NO.191 /B/18 3 COPY TO :1. THE ASSESSEE 2. THE REVENUE 3.THE CIT CONCERNED. 4.THE CIT(A) CONCERNED. 5.DR 6.GF BY ORDER SR. PRIVATE SECRETARY, ITAT, BANGAL ORE. SP NO.191 /B/18 4 1. DATE OF DICTATION 2. DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER . 3. DATE ON WHICH THE APPROVED DRAFT COMES TO SR. P.S... 4. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING MEMBER .. 5. DATE ON WHICH THE FAIR ORDER COMES BACK TO THE S R. P.S. .. 6. DATE OF UPLOADING THE ORDER ON WE BSITE.. 7. IF NOT UPLOADED, FURNISH THE REASON FOR DOING SO .. 8. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK .. 9. DATE ON WHICH ORDER GOES FOR XEROX & ENDORSEMENT.. 10. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK . 11. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER . 12. THE DATE ON WHICH THE FILE GOES TO DISPATCH SEC TION FOR DISPATCH OF THE TRIBUNAL ORDER . 13. DATE OF DESPATCH OF ORDER. ..