M/s Swadesh Developers & Builders, Bhopal V. The ACIT Central -2, Bhopal

SA 22/Ind/2019

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 0419 (ITAT-INDORE)
• Duration Of Justice: 19 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-03-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2008-2009
• Appeal Filed On: 07-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Bonafide belief; Application of stay

Judgement Text

SWADESH DEVELOPERS & BUILDERS SA NO. 22/IND/2019 1 IN 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. 22/IND/2019 ARISING OUT OF I.T(SS) NO. 304 TO 309/IND/2017 ASSESSMENT YEARS: 2008-09 TO 2013-14 M/S. SWADESH DEVELOPERS AND BUILDERS, :: APPLICANT PREMIER ORCHARD, OPP. BMHRC KARNOD BY PASS ROAD, BHOPAL. VS. ASSTT. COMMISSIONER OF :: RESPONDENT INCOME TAX, CENTRAL-II, BHOPAL PAN: AARFS6977P APPLICANT BY : SHRI S . S . DESHPANDE, C.A. RES PONDENT BY : S MT. ASHIMA GUPTA, CIT DATE OF HEARING 20.0 3 .201 9 DATE OF PRONOUNCEMENT : 20.0 3 .201 9 O R D E R PER MANISH BORAD, A.M. THIS STAY APPLICATION IS FILED BY THE ASSESSEE SEEK ING STAY OF THE DEMAND OF RS. 9,75,28,358/- FOR THE ASSESSMENT YEAR S 2008-09 TO 2013-14. SWADESH DEVELOPERS & BUILDERS SA NO. 22/IND/2019 2 2. LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE ASS ESSEE HAD FILED APPEALS BEFORE THE HON'BLE TRIBUNAL AGAINST T HE ABOVE DEMAND FOR ASSESSMENT YEAR 2008-09 TO 2013-14 MADE BY THE LD.A.O AND CONFIRMED BY LD. CIT(A). THE DEPARTMENT IS PRESSING FOR THE PAYMENT OF BALANCE DEMAND. LD. COUNSEL FOR THE ASSE SSEE FURTHER SUBMITTED THAT THE APPEALS ARE PENDING BEFORE THE T RIBUNAL FOR HEARING AND ASSESSEE IS OF BONAFIDE BELIEF THAT ON ADJUDICATION THE APPELLANT WILL SUCCEED AND THEREFORE PRAYED THAT ST AY OF DEMAND TILL THE DISPOSAL OF THE APPEALS MAY BE GRANTED. 3. ON THE OTHER HAND, THE LD. DEPARTMENTAL REPRESENTAT IVE ARGUED AND VEHEMENTLY OPPOSED THE STAY APPLICATION AND SUB MITTED THAT THE REQUEST OF DEPOSITING SMALL AMOUNT SHOULD NOT B E GRANTED. 4. WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE RECORDS PLACED BEFORE US. WE FIND THAT THE PRESENT STAY APP LICATION IS FOR THE STAY OF ABOVE DEMAND. CONSIDERING THE RIVAL SUBMISS IONS, WE ARE OF THE CONSIDERED VIEW THAT THE PRESENT STAY APPLICATI ON DESERVES TO BE ALLOWED SUBJECT TO THE CONDITION THAT THE ASSESSEE WOULD PAY A SUM OF RS.35 LAKHS BEFORE 31.3.2019 AND ANOTHER INSTAL LMENT OF RS.35 SWADESH DEVELOPERS & BUILDERS SA NO. 22/IND/2019 3 LAKHS BEFORE 30.4.2019 FROM THE DATE OF RECEIVING T HE STAY ORDER. SUBJECT TO THE AFORESAID CONDITION, THE IMPUGNED DE MAND SHALL REMAIN STAYED FOR 90 DAYS OR TILL THE DISPOSAL OF APPEALS, WHICHEVER EVENT OCCURS EARLIER. 5. THE STAY APPLICATION IS DISPOSED OFF ACCORDINGLY SUBJECT TO CONDITION HEREINABOVE. ORDER WAS PRONOUNCED IN THE OPEN COURT ON 20.03.2 019. SD/- SD/- (KUL BHARAT) (MANISH BORAD) JUDICIAL MEMBER ACCOU NTANT MEMBER INDORE: 20 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