M/s Stump Schuele and Somappa Springs Private Limited , Bangalore V. The Assistant Commissioner of Income Tax LTU Circle-2, Bangalore

SA 266/BANG/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 6105 (ITAT-BANGALORE)
• Duration Of Justice: 5 month(s) 3 day(s)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 01-05-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2014-2015
• Appeal Filed On: 28-11-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SRINANDINI DAS

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH A BEFORE SHRI A.K. GARODIA, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER S.P. NO. & ITA NO. PETITIONER RESPONDENT 266/BANG/2018 (IN IT(TP)A NO.3142/BANG/2018) (A.Y. 2014 15) M/S. STUMPP, SCHUELE AND SOMAPPA SPRINGS PVT. LTD., 139/2, HOSUR ROAD, BENGALURU 560095. PAN : A A LCS7347E THE ACIT CIRCLE 2, LTU, BENGALURU ASSESSEE BY :SHRI NEERAJ JAIN, ADV OCATE REVENUE BY : S MT. SRINANDINI D AS , ADDL. CIT ( DR ) DATE OF HEARING :27.12.2018. DATE OF PRONOUNCEMENT :27.12.2018. O R DE R PER SHRI A. K. GARODIA, A.M. : THE ASSESSEE HAS FILED THIS STAY PETITION SEEKING S TAY OF DISPUTED OUTSTANDING DEMAND OF RS. 13,99,61,080/- FOR A. Y. 2014 15. 2. IN COURSE OF HEARING OF THIS STAY PETITION, IT W AS SUBMITTED BY THE LEARNED AR OF THE ASSESSEE THAT THE ASSESSEE IS NOT IN A POSITION TO MAKE ANY FURTHER PAYMENT OF THE DISPUTED OUTSTANDING TAX AND THE ASSESSEE WILL BE SATISFIED IF EARLY HEARING IS GRANTED BY REJECTING THIS STAY PETITION. LEARNED D R OF THE REVENUE HAD NO OBJECTION REGARDING GRANTING OF EARLY HEARING BY REJECTING TH E STAY PETITION. 3. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND IN VIEW OF THE FACTS DISCUSSED ABOVE, WE REJECT THE STAY PETITION AND GRANT EARLY HEARING. THE HEARING OF THE APPEAL IS FIXED ON 19.01.2018. SINCE THE DATE OF HEARING W AS PRONOUNCED IN OPEN COURT, NO NOTICE OF HEARING IS REQUIRED TO BE ISSUED. 4. IN THE RESULT, THE STAY PETITION FILED BY THE AS SESSEE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THE DATE OF HEARING ON CONCLUSION OF THE HEARING. SD/- SD/- (PAVAN KUMAR GADALE) (A. K. GARODIA) JUDICIAL MEMBER ACCOUNTANT MEMBER BANGALORE, DATED: 27.12.2018. MS* 2 S.P. NO.266/BANG/2018 (IN IT(TP)A NO. 3142/BANG/2018) COPY TO: 1. APPELLANT 4. CIT(A) 2. RESPONDENT 5. DR, ITAT, BANGALORE 3. CIT 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, BANGALORE.