Knowlarity Communications India Private Limited, Gurgaon, Haryana V. Assistant Commissioner of Income Tax, Circle 14(2), Delhi

SA 255/DEL/2024

• Counselvise Citation: [2024] 130 COUNSELVISE.COM (IT) 2466 (ITAT-DELHI)
• Duration Of Justice: 1 month(s) 17 day(s)
• Appeal Type: Stay Application
• Pronouncement Date: 04-09-2024
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: E
• Next Hearing Date: 05-08-2024
• Assessment Year: 2017-2018
• Appeal Filed On: 18-07-2024
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SUBHRA JYOTI CHAKRABORTY
• Assessee Lawyers: SALIL KAPOOR
• Keywords: Application of stay
• Section: 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH, ‘E’: NEW DELHI BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER AND SHRI BRAJESH KUMAR SINGH, ACCOUNTANT MEMBER SA No.255/Del/2024 (Arising out of ITA No.1420/Del/2024) [Assessment Year: 2017-18] Knowlarity Communications India Private Limited, Awfis, 7 th Floor, Ambience Mall, NH-8, Gurgaon, Haryana-122002 Vs Assistant Commissioner of Income Tax, Circle-14(2), C.R. Building, I.P. Estate, New Delhi-110002 PAN-AAFCK1875R Assessee Revenue Assessee by Sh. Salil Kapoor, Adv. Sh. Shivam Yadav Adv. & Sh. Sumit Lalchandani, Adv. Revenue by Sh. Subhra Jyoti Chakraborty, CIT-DR Date of Hearing 06.08.2024 Date of Pronouncement 05.09.2024 ORDER PER BRAJESH KUMAR SINGH, AM, The captioned Stay Application has been filed by the assessee seeking stay on recovery of outstanding disputed demand for Rs.52,36,20,217/- for the Assessment Year 2017-18. 2. Heard the ld. AR of both the parties. Perused the material on record. It is noticed that the Tribunal was pleased vide order sheet noting dated 26.07.2024 to grant stay till the next date of hearing by observing as under:- “Ld. Counsel for the assessee has submitted that by way of the present stay application, assessee seek stay on the 2 SA No.255/Del/2024 outstanding demand in dispute. He further submitted that the issue involved in the corresponding appeal is squarely covered by the decision of the Hon'ble Supreme Court in the case of PCIT vs. Abhisar Buildwell Pvt. Ltd and the corresponding appeal is already listed for hearing on 06.08.2004. He requested to extend the stay in dispute. 2. Ld. DR has opposed the request of the Ld. Counsel for the assessee. 3. After hearing the rival contentions and keeping in view the aforesaid facts and circumstances of the case as noted above, the Registry is directed to tag the instant stay application with the corresponding appeal for hearing on 06.08.2024. In the meanwhile, the AO is directed to maintain status quo on the recovery of the disputed demand till 06.08.2024, when the matter shall be taken up by the regular Bench. Parties informed in the Open Court.” 3. Since, the hearing of the appeal has already been concluded and it will take some time to pronounce the order, we deem it proper and to subserve the interest of justice further extend the protection granted vide the order sheet entry dated 26.07.2024 as above till 31.10.2024. The Revenue is directed not to take any coercive step to enforce the collection of disputed tax demand till 31.10.2024 4. The Stay Petition filed by the assessee is disposed as indicated above. Order pronounced in the open court on 5 th September, 2024. Sd/- Sd/- [KUL BHARAT] [BRAJESH KUMAR SINGH] JUDICIAL MEMBER ACCOUNTANT MEMBER Dated 05.09.2024. ff^ ff^ff^ ff^? ?? ? Copy forwarded to: 1. Assessee 3 SA No.255/Del/2024 2. Respondent 3. CIT 4. CIT(A) 5. DR Asst. Registrar, ITAT, New Delhi,