M/s Madhya Pradesh Madhya Kshetra Vidyut Vitren Company Ltd., Bhopal V. DCIT 2 (1), Bhopal

SA 27/Ind/2019

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 0402 (ITAT-INDORE)
• Duration Of Justice: 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-03-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2009-2010
• Appeal Filed On: 15-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ASHIMA GUPTA; K C SELVAMANI
• Keywords: Bonafide belief; Application of stay

Judgement Text

MP MADHYA KSHETRA VIDYUT VITARAN CO. LIMITED SA NO. 27/IND/2019 1 IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE BEFORE HON'BLE KUL BHARAT, JUDICIAL MEMBER AND HON'BLE MANISH BORAD, ACCOUNTANT MEMBER S.A. NO. 27/IND/2019 ARISING OUT OF I.T.A NO. 181/IND/2018 ASSESSMENT YEAR: 2009-10 M/S. MADHYA PRADESH MADHYA KSHETRA :: APPLICANT VIDYUT VITAREN COMPANY LTD, BHOPAL. VS. DEPUTY COMMISSIONER OF :: RESPONDENT INCOME TAX 2(1), BHOPAL PAN: AADCM6799G APPLICANT BY : SHRI MANOJ MUNSHI,ADVOCATE RESPONDENT BY : S MT. ASHIMA GUPTA, CIT & SHRI K.C. SELVAMANI, SR.DR DATE OF HEARING 20.0 3 .201 9 DATE OF PRONOUNCEMENT : 20.0 3 .201 9 O R D E R PER MANISH BORAD, A.M. THIS STAY APPLICATION IS FILED BY THE ASSESSEE SEEK ING STAY OF THE DEMAND OF RS. 78,68,127/- FOR THE ASSESSMENT YEARS 2009-10. 2. LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE ASS ESSEE HAD FILED APPEAL BEFORE THE HON'BLE TRIBUNAL AGAINST TH E ABOVE DEMAND MP MADHYA KSHETRA VIDYUT VITARAN CO. LIMITED SA NO. 27/IND/2019 2 FOR ASSESSMENT YEAR 2009-10 MADE BY THE LD.A.O AND CONFIRMED BY LD. CIT(A). THE DEPARTMENT IS PRESSING FOR THE PAYM ENT OF BALANCE DEMAND. LD. COUNSEL FOR THE ASSESSEE FURTHER SUBMIT TED THAT THE ASSESSEE HAS ALREADY DEPOSITED MORE THAN 86% OF THE DISPUTED AMOUNT AND THE APPEAL IS PENDING BEFORE THE TRIBUNA L AND THE ASSESSEE IS OF BONAFIDE BELIEF THAT ON ADJUDICATION THE APPELLANT WILL SUCCEED AND THEREFORE PRAYED THAT STAY OF DEMAND TI LL THE DISPOSAL OF THE APPEAL MAY BE GRANTED. 3. ON THE OTHER HAND, THE LD. DEPARTMENTAL REPRESENTAT IVE ARGUED AND VEHEMENTLY OPPOSED THE STAY APPLICATION. 4. WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE RECORDS PLACED BEFORE US. WE FIND THAT THE PRESENT STAY APP LICATION IS FOR THE STAY OF ABOVE DEMAND. CONSIDERING THE RIVAL SUBMISS IONS, WE ARE OF THE CONSIDERED VIEW THAT THE PRESENT STAY APPLICATI ON DESERVES TO BE ALLOWED LOOKING TO THE FACT THAT THE APPLICANT IS A STATE GOVERNMENTS UNDERTAKING AND HAS ALREADY DEPOSITED MORE THAN 86% OF THE DISPUTED AMOUNT. THE RELEVANT APPEAL IS FIXED FOR HEARING ON 30.4.2019 FOR WHICH NO SEPARATE NOTICE S HALL BE ISSUED MP MADHYA KSHETRA VIDYUT VITARAN CO. LIMITED SA NO. 27/IND/2019 3 TO BOTH THE PARTIES. THE IMPUGNED DEMAND SHALL REMA IN STAYED FOR 90 DAYS OR TILL THE DISPOSAL OF APPEAL, WHICHEVER EVENT OCCURS EARLIER. 5. THE STAY APPLICATION IS DISPOSED OFF ACCORDINGLY SUBJECT TO CONDITION HEREINABOVE. ORDER WAS PRONOUNCED IN THE OPEN COURT ON 20.03.2 019. SD/- SD/- (KUL BHARAT) (MANISH BORAD) JUDICIAL MEMBER ACCOU NTANT MEMBER INDORE: 20 TH MARCH, 2019 /DEV COPY TO: ASSESSEE/AO/PR. CIT/ CIT (A)/ITAT (DR)/GUA RD FILE. BY ORDER ASSTT.REGISTRAR, I.T.A.T., INDORE