CHOICE BUILDESTATE PRIVATE LIMITED, Jaipur V. ITO, Jaipur

SA 22/JPR/2017

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 3618 (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
• Assessee Lawyers: S L PODAR
• Keywords: Application of stay; Reasonable cause
• Section: 68

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 ;KNO] YS[KK LNL; DS LE{K BEFORE: SHRI VIJAY PAL RAO, JM & SHRI VIKRAM SINGH YADAV, AM S.A NO. 22/JP/2017 (ARISING OUT OF ITA NO. 431/JP/2016) FU/KZKJ.K O'K Z @ ASSESSMENT YEAR : 2007-08 M/S CHOICE BUILDESTATE PRIVATE LTD. 144, FRONTIER COLONY, ADARSH NAGAR, JAIPUR. CUKE VS. THE ITO, WARD-5(2), JAIPUR. LFKK;H YS[KK LA-@THVKBZVKJ LA-@ PAN/GIR NO.: AAACC9805G VIHYKFKHZ@ APPELLANT IZR;FKHZ@ RESPONDENT FU/KZKFJRH DH VKSJ L S@ ASSESSEE BY : SHRI S.L. PODAR (ADV.) JKTLO DH VKSJ LS @ REVENUE BY : SHRI VARINDER MEHTA (CIT) LQUOKBZ DH RKJH[ K@ DATE OF HEARING : 22/12/2017 MN?KKS'K.KK DH RKJH[ K@ DATE OF PRONOUNCEMENT: 22/12/2017 VKNS'K@ ORDER PER: VIJAY PAL RAO, J.M. BY WAY OF THIS APPLICATION THE ASSESSEE IS SEEKING STAY OF OUTSTANDING DEMAND OF RS.15,05,514/- ARISING FROM T HE ADDITION MADE BY THE AO U/S 68 OF THE ACT ON ACCOUNT OF SHARE AP PLICATION MONEY RECEIVED. 2. WE HAVE HEARD THE LD. AR AS WELL AS LD. DR AND CONSIDERED THE RELEVANT MATERIAL ON RECORD. THE LD. AR OF THE ASSE SSEE HAS POINTED OUT S.A. NO. 22JP/2017 M/S CHOICE COLONIZERS PRIVATE LTD. VS. ITO, JAIPUR 2 THE TOTAL DEMAND IN THIS CASE WAS RAISED BY THE AO OF RS. 22,85,514/- OUT OF WHICH THE ASSESSEE INITIALLY PAID RS. 7,80,0 00/- AND FURTHER PAID RS. 2,00,000/- ON 17.11.2017. HE HAS FILED A COPY O F CHALLAN FOR PAYMENT OF RS. 2,00,000/-. THUS HE HAS SUBMITTED TH AT THE ASSESSEE HAS ALREADY PAID RS. 9,80,000/- OUT OF THE TOTAL DE MAND OF RS. 22,85,514/-. THE LD. AR HAS FURTHER SUBMITTED THAT THE APPEAL OF THE ASSESSEE IS LISTED FOR HEARING ON 15.01.2018 AND TH E ASSESSEE WOULDNOT TO TAKE ANY FURTHER ADJOURNMENT IN THE HEARING OF T HE APPEAL AND THEREFORE, THE BALANCE DEMAND MAY BE STAYED TILL DI SPOSAL OF THE APPEAL OF THE ASSESSEE. 3. ON THE OTHER HAND, LD. DR HAS OPPOSED TO THE STA Y OF THE OUTSTANDING DEMAND AND SUBMITTED THAT THE ASSESSEE SHOULD PAY THE DEMAND AMOUNT WHEN NO FINANCIAL DIFFICULTLY HAS BEE N SHOWN BY THE ASSESSEE. 4. HAVING CONSIDERED THE RIVAL SUBMISSIONS AS WELL AS RELEVANT MATERIAL ON RECORD WE FIND THAT OUT OF THE TOTAL DE MAND OF RS. 22,85,514/- THE ASSESSEE HAS ALREADY PAID A SUM OF RS. 9,80,000/- THUS, THE ASSESSEE HAS PAID ABOUT 50% OF THE TOTAL DEMAND INCLUSIVE OF INTEREST AND NOW THE BALANCE OUTSTANDING DEMAND IS ONLY RS. 13,05,000/-. THE DISPUTE IN THE APPEAL IS REGARDING ADDITION MADE BY S.A. NO. 22JP/2017 M/S CHOICE COLONIZERS PRIVATE LTD. VS. ITO, JAIPUR 3 THE AO ON ACCOUNT OF THE SHARE APPLICATION MONEY WH ICH CAN BE DECIDED ONLY AFTER ANALYZING AND APPRECIATION OF FA CTS OF THE CASE. THE APPEAL HAS ALREADY FIXED FOR HEARING ON 15.01.2018, THEREFORE, IN THE FACTS AND CIRCUMSTANCES OF THE CASE WE STAY THE BAL ANCE OUTSTANDING DEMAND TILL 28.02.2018 OR DISPOSAL OF THE APPEAL WH ICHEVER IS EARLIER. FURTHER IN CASE THE ASSESSEE SEEKS ADJOURNMENT OF H EARING WITHOUT ANY REASONABLE CAUSE THE STAY GRANTED BY US SHALL STAND VACATED. IN THE RESULT, THE STAY APPLICATION IS ALLOWED. IN ORDER PRONOUNCED IN THE OPEN COURT ON 22/12/201 7 SD/- SD/- FOE FLAG ;KNO FOT; IKY JKO (VIKRAM SINGH YADAV) (VIJAY PAL RAO) YS[KK LNL;@ ACCOUNTANT MEMBER U;KF;D LNL;@ JUDICIAL MEMBER TK;IQJ@ JAIPUR FNUKAD@ DATED:- 22/12/2017. * SANTOSH. VKNS'K DH IZFRFYFI VXZSFKR@ COPY OF THE ORDER FORWARDED TO: 1. VIHYKFKHZ@ THE APPELLANT- M/S CHOICE BUILDESTATE PRIVATE LTD., JAIPUR. 2. IZR;FKHZ@ THE RESPONDENT- THE ITO,WARD-5(2), JAIPUR. 3. VK;DJ VK;QDR@ CIT 4. VK;DJ VK;QDR@ CIT(A) 5. FOHKKXH; IZFRFUF/K] VK;DJ VIHYH; VF/KDJ.K] T;IQJ@ DR, ITAT, JAIPUR. 6. XKMZ QKBZY@ GUARD FILE {S.A. NO. 22/JP/2017} VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASST. REGISTRAR