M/s.Zyme Solutions Private Limited, Bangalore V. Assistant Commissioner of Income-Tax, Circle-7(1)(2), Bangalore

SA 220/BANG/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 6059 (ITAT-BANGALORE)
• Duration Of Justice: 7 month(s) 25 day(s)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 01-05-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2012-2013
• Appeal Filed On: 06-09-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: NARENDRA JAIN
• Keywords: Application of stay; Extension of stay

Judgement Text

SP.220/BANG/2018 PAGE - 1 IN THE INCOME TAX APPELLATE TRIBUNAL BENGALURU BENCH 'A', BENGALURU BEFORE SHRI. JASON P. BOAZ, ACCOUNTANT MEMBER AND SHRI. LALIET KUMAR, JUDICIAL MEMBER STAY PETITION NO.220/BANG/2018 (IN I.T.A NO.1661/BANG/2016 (ASSESSMENT YEAR : 2012-13) M/S. ZYME SOLUTIONS P. LTD, NO.459, LAKSHA TOWERS, ASHOKA PILLAR ROAD, 2 ND BLOCK, JAYANAGAR, BENGALURU 560 011 .. APPLICANT PAN : AAACZ2465R V. ASST. COMMISSIONER OF INCOME-TAX, CIRCLE - 7(1)(2), BENGALURU .. RESPONDENT ASSESSEE BY : SHRI. NARENDRA JAIN, CA REVENUE BY : SHRI. SIDDAPPAJI R. N, ADDL. CIT HEARD ON : 28.09.2018 PRONOUNCED ON : 28.09.2018 O R D E R PER LALIET KUMAR, JUDICIAL MEMBER : THE PRESENT STAY APPLICATION IS FILED BY THE ASSES SEE SEEKING EXTENSION OF STAY GRANTED BY THE TRIBUNAL VIDE ORDE R IN SP.43/BANG/2018, DT.09.03.2018. SP.220/BANG/2018 PAGE - 2 02. IT WAS SUBMITTED BY THE LD. AR THAT THE ASSESSE E HAS COMPLIED WITH THE DIRECTION TO PAY A SUM OF RS.50 LAKHS BEFO RE 25.03.2018. THIS AMOUNT WAS PAID ON 25.03.2018 BY CHEQUE AND TH E SUPPORTING DOCUMENT WAS PLACED ON RECORD. THE APPEAL WAS POST ED FOR HEARING ON 02.05.2018. IT WAS SUBMITTED THAT THE ASSESSEE HAS NOT SOUGHT ADJOURNMENT UNNECESSARILY, BUT ON THE CONTRARY THE LD. DR HAS BEEN TAKING ADJOURNMENTS ON ONE REASON OR THE OTHER. IT WAS ALSO POINTED OUT THAT NOW THE APPEAL IS POSTED FOR HEARING ON 09 .01.2019. THE AMOUNT OUTSTANDING IS RS.2,07,33,880/- AND THE ORIG INAL DEMAND WAS RS.3,95,41,096/-. IT WAS SUBMITTED THAT THERE IS NO CHANGE IN FACTS AND HE PRAYED THAT STAY GRANTED EARLIER SHOUL D BE EXTENDED FOR A FURTHER PERIOD OF SIX MONTHS. 03. ON THE OTHER HAND, THE LD. DR SUBMITTED THAT TH E ASSESSEE BE BURDENED WITH SOME ADDITIONAL DEPOSIT OF TAX. 04. WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE RECORD. THERE IS NO CHANGE IN FACTS OF PRESENT CASE AFTER P ASSING OF EARLIER STAY GRANTED BY THIS TRIBUNAL. FURTHER, THE DELAY IN DISPOSAL OF THE APPEAL IS NOT ATTRIBUTABLE TO THE ASSESSEE. IN THE LIGHT OF THIS, WE DEEM IT APPROPRIATE TO EXTEND THE STAY FOR A FURTHE R PERIOD OF SIX MONTHS WHICH IS EXPIRING ON 28.03.2019, OR DISPOSAL OF APPEAL, WHICHEVER IS EARLIER, ON THE SAME TERMS AND CONDITI ONS MENTIONED IN THE ORDER DT.09.03.2018 (SUPRA). SP.220/BANG/2018 PAGE - 3 05. IN THE RESULT, STAY PETITION IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 28 TH SEPTEMBER, 2018. SD/- (JASON P. BOAZ) (LALIET KUMAR) ACCOUNTANT MEMBER JUDICIAL MEMBER BENGALURU DATED : 28.09.2018 MCN* COPY TO: 1. THE ASSESSEE 2. THE ASSESSING OFFICER 3. THE COMMISSIONER OF INCOME-TAX 4. COMMISSIONER OF INCOME-TAX(A) 5. DR 6. GF, ITAT, BANGALORE BY ORDER SENIOR PRIVATE SECRETARY, INCOME TAX APPELLATE TRIBUNAL, BANGALORE.