THE SHRIRAM GRAM VIKAS SHIKSHA SANSTHA, Nagpur V. TAX RECOVERY OFFICER, RANGE-6, Nagpur

SA 25/NAG/2013

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 3231 (ITAT-NAGPUR)
• Duration Of Justice: 5 year(s) 6 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-04-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2008-2009
• Appeal Filed On: 19-09-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NARENDRA KANE
• Assessee Lawyers: M MANI
• Keywords: Application of stay

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH (E-COURT) , MUMBAI BEFORE SHRI P.M. JAGTAP, AM AND DR. S.T.M.PAVLAN, J M S.A. NO.24/NAG/2013 (ARISING OUT OF ITA NO. 346/ NAG /2013) ASSESSMENT YEAR 2006-07 S.A. NO.25/NAG/2013 (ARISING OUT OF ITA NO. 347/ NAG /2013) ASSESSMENT YEAR 2008-09 SHRIRAM GRAM VIKAS SHIKSHA SANSTHA, C/O-NIS ACEDEMY, 47 GANGA BUILDING, BETWEEN RAVI NAGAR TO RAMNAGAR SEQUARE, GOKULPETH NAGPUR-440010 / VS. TAX RECOVERY OFFICER, RANGE-6, 3 RD FLOOR, AAYKAR, BHAVAN, CIVIL LINES, NAGPUR. ./ PAN : AAATT8853E ( /APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY : SHRI M.MANI / RESPONDENT BY : SHRI NARENDRA K ANE / DATE OF HEARING : 20/12/2013 / DATE OF PRONOUNCEMENT : 20/12/2013 !' / O R D E R PER P.M.JAGTAP, AM :- . # ## # . $% $% $% $% , ! ! ! ! BY THESE STAY APPLICATIONS, THE ASSESSEE IS SEEKING STAY OF OUTSTANDING DEMAND OF RS.8,60,321/-, AND RS.35,33,7 00/- FOR A.Y. 2006-07 AND 2008-09 RESPECTIVELY. 2 S.A. NO.24 &25/NAG/2013 2. WE HAVE HEARD THE ARGUMENTS OF BOTH THE SIDES AN D ALSO PERUSED THE RELEVANT MATERIAL AND RECORD. AS SUBMITTED BY THE LD. COUNSEL OF THE ASSESSEE, THE ASSESSEE IN THE PRESENT CASE IS A CHA RITABLE INSTITUTION IMPARTING EDUCATION TO THE CHILDREN. AS FURTHER SU BMITTED BY HIM, THE OUTSTANDING DEMAND FOR BOTH THE YEARS UNDER CONSIDE RATION HAS ARISEN AS A RESULT OF DISALLOWANCE OF ASSESSEES CLAIM FOR BENEFIT U/S 10(23C)(IIIAB) MADE BY THE AUTHORITIES BELOW AND TH E APPEALS FILED BY THE ASSESSEE DISPUTING THE SAID DISALLOWANCE ARE NOW PE NDING BEFORE THE TRIBUNAL. HE HAS SUBMITTED THAT ALL THE BANK ACCOU NTS OF THE ASSESSEE ARE ATTACHED BY THE INCOME-TAX DEPARTMENT AND A SUM OF RS.7,71,000/- AVAILABLE IN THE SAID ACCOUNTS HAS ALREADY BEEN REC OVERED AGAINST THE OUTSTANDING DEMAND. HE HAS ALSO SUBMITTED THAT AS A RESULT OF THE BANK ACCOUNTS ATTACHMENTS, THE ASSESSEE IS FINDING DIFFI CULT TO MANAGE THE DAY TO DAY AFFAIRS OF THE SCHOOLS BEING RUN BY IT. THE LD. DR ON THE OTHER HAND HAS NOT DISPUTED THIS FACTUAL POSITION NARRATE D BY LD. COUNSEL FOR THE ASSESSEE. HE HOWEVER HAS SUBMITTED THAT IF AT A LL THE STAY OF OUTSTANDING DEMAND IS TO BE GRANTED, THE ASSESSEE M AY BE DIRECTED TO DEPOSIT SOME AMOUNT AGAINST THE OUTSTANDING DEMAND AND ALSO TO OFFER SECURITY FOR THE BALANCE OUTSTANDING DEMAND. 3. AFTER CONSIDERING THE RIVAL SUBMISSIONS AND PERU SING THE RELEVANT MATERIAL ON RECORD, WE GRANT THE STAY OF OUTSTANDIN G DEMAND FOR BOTH THE YEARS UNDER CONSIDERATION SUBJECT TO CONDITION THAT THE ASSESSEE SHALL DEPOSIT A SUM OF RS.5 LAKHS AGAINST THE OUTSTANDING DEMAND IN TWO INSTALLMENTS OF 2,50,000 EACH BY 20 TH JANUARY 2014 AND 28 TH FEBRUARY 2014 AND OFFER SECURITY FOR THE BALANCE OUTSTANDING DEMAND TO THE SATISFACTION OF THE AO. TO FACILITATE THESE PAYMEN TS AND IN ORDER TO ENABLE THE ASSESSEE TO CARRY ON ITS DAY TO DAY ACTI VITIES SMOOTHLY, THE 3 S.A. NO.24 &25/NAG/2013 DEPARTMENT IS DIRECTED TO VACATE THE ATTACHMENTS OF THE BANK ACCOUNTS OF THE ASSESSEE. THIS STAY IS GRANTED FOR A PERIOD OF SIX MONTHS OR TILL THE DISPOSAL OF THE ASSESSEES APPEAL BY THE TRIBUNAL W HICHEVER IS EARLIER. THE REGISTRY IS DIRECTED TO POST OF THE APPEAL OF T HE ASSESSEE FOR HEARING OUT OF TURN ON 21.01.2014 AS ANNOUNCED IN THE OPEN COURT AND TAKEN NOTE BY THE LEARNED REPRESENTATIVES OF BOTH THE SID ES. 3 IN THE RESULT, THE STAY APPLICATIONS OF THE ASSESSE E ARE ALLOWED IN TERMS INDICATED ABOVE. ORDER PRONOUNCED IN THE OPEN COURT ON 20 TH DECEMBER 2013 . SD/- SD/- DR. S.T.M.PAVLAN P.M.JAGTAP (JUDICIAL MEMBER) (ACCOUNTANT MEMBER) & MUMBAI , '! '! '! '! DATED: 20.12.2013 F{X~{T? P.S. & !'&&()*&+* / COPY OF THE ORDER FORWARDED TO : (1) (,-. / THE ASSESSEE; (2) $ / THE REVENUE; (3) & /01 / THE CIT(A); (4) & /& & / THE CIT, MUMBAI CITY CONCERNED; (5) *2%&((3,4&&&3,4& / THE DR, ITAT, MUMBAI; (6) %5-&6 / GUARD FILE. & *&( / TRUE COPY !' / BY ORDER 7 / 8& $ / (DY./ASSTT. REGISTRAR) &&3,4& / ITAT, MUMBAI