CHOICE BUILDESTATE PRIVATE LIMITED, Jaipur V. ITO, Jaipur

SA 23/JPR/2017

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 3609 (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
• 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; IKWY 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. 23/JP/2017 (ARISING OUT OF ITA NO. 432/JP/2016) FU/KZKJ.K O'K Z @ ASSESSMENT YEAR : 2007-08 M/S CHOICE COLONIZERS 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.: AAACC9502G 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.12,09,012/- 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. 23JP/2017 M/S CHOICE COLONIZERS PRIVATE LTD. VS. ITO, JAIPUR 2 THAT THE TOTAL DEMAND IN THIS CASE WAS RAISED BY TH E AO OF RS. 19,59,012/- ARISING FROM THE ADDITION MADE U/S 68 O F THE INCOME TAX ACT ON ACCOUNT OF SHARE APPLICATION MONEY RECEIVED BY THE ASSESSEE. THE ASSESSEE ALREADY PAID A SUM OF RS. 7,50,000/- A ND FURTHER A SUM OF RS.2,00,000/- ON 17.11.2017. THE LD. AR HAS FILED A COPY OF CHALLAN FOR PAYMENT OF RS. 2,00,000/-. THUS, HE HAS SUBMITTED T HAT THE ASSESSEE HAS PAID A TOTAL AMOUNT OF RS. 9,50,000/- OUT OF TO TAL DEMAND OF RS. 19,59,000/-. THUS, IT IS CLEAR THAT THE ASSESSEE HA S ALREADY PAID ABOUT 50% OF THE DEMAND AND THE ISSUE INVOLVED IN THE APP EAL REQUIRES THE CONSIDERATION AND APPRECIATION OF FACTS AND THE REC ORD. DURING THE HEARING OF APPEAL, THEREFORE, WE GRANT AGAINST THE BALANCE DEMAND TILL 28.02.2018 OR TILL DISPOSAL OF THE APPEAL OF THE AS SESSEE WHICH IS FIXED FOR HEARING ON 15.01.2018 WHICHEVER IS EARLIER. FUR THER IN CASE THE ASSESSEE SEEKS ADJOURNMENT OF HEARING WITHOUT ANY R EASONABLE 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; IKWY JKO (VIKRAM SINGH YADAV) (VIJAY PAL RAO) YS[KK LNL;@ ACCOUNTANT MEMBER U;KF;D LNL;@ JUDICIAL MEMBER S.A. NO. 23JP/2017 M/S CHOICE COLONIZERS PRIVATE LTD. VS. ITO, JAIPUR 3 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 COLONIZERS 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. 23/JP/2017} VKNS'KKUQLKJ@ BY ORDER, LGK;D IATHDKJ@ ASST. REGISTRAR