Manohar Lal Gupta, INDORE V. ITO-4(5), INDORE

SA 28/Ind/2019

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 0427 (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: 2015-2016
• Appeal Filed On: 15-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Bonafide belief; Application of stay
• Section: 20

Judgement Text

MANOHAR LAL GUPTA SA NO. 28/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. 28/IND/2019 ARISING OUT OF I.T.A NO. 126/IND/2019 ASSESSMENT YEARS: 2015-16 SHRI MANOHAR LAL GUPTA, :: APPLICANT 204, SANT MARG. GANDHI NAGAR, INDORE VS. INCOME TAX OFFICER 4(5) :: RESPONDENT INDORE PAN: BCJPG9107Q APPLICANT BY : SHRI MOHAN DAS KABRA, ADV. RESPONDENT BY : 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. 57,40,137/- FOR THE ASSESSMENT YEARS 2015-16. 2. LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE ASS ESSEE HAD FILED APPEAL BEFORE THE HON'BLE TRIBUNAL AGAINST TH E ABOVE DEMAND FOR ASSESSMENT YEAR 2015-16 MADE BY THE LD.A.O AND CONFIRMED BY MANOHAR LAL GUPTA SA NO. 28/IND/2019 2 LD. CIT(A). THE DEPARTMENT IS PRESSING FOR THE PAYM ENT OF BALANCE DEMAND. LD. COUNSEL FOR THE ASSESSEE FURTHER SUBMIT TED THAT THE APPEAL IS PENDING BEFORE THE TRIBUNAL FOR HEARING A ND ASSESSEE IS OF BONAFIDE BELIEF THAT ON ADJUDICATION THE APPELLANT WILL SUCCEED AND THEREFORE PRAYED THAT STAY OF DEMAND TILL THE DISPO SAL OF THE APPEAL MAY BE GRANTED. 3. ON THE OTHER HAND, THE LD. DEPARTMENTAL REPRESENTAT IVE ARGUED AND VEHEMENTLY OPPOSED THE STAY APPLICATION AND SUB MITTED THAT THE REQUEST OF DEPOSITING SMALL AMOUNT SHOULD NOT B E GRANTED. 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 SUBJECT TO THE CONDITION THAT THE ASSESSEE WOULD PAY A SUM OF RS.5 LAKHS BEFORE 31.3.2019 FROM THE DATE OF RE CEIVING THE STAY ORDER. SUBJECT TO THE AFORESAID CONDITION, THE IMPU GNED DEMAND SHALL REMAIN STAYED FOR 90 DAYS OR TILL THE DISPOS AL OF APPEAL, WHICHEVER EVENT OCCURS EARLIER. THE RELEVANT APPEA L WILL BE TAKEN MANOHAR LAL GUPTA SA NO. 28/IND/2019 3 UP FOR HEARING ON 30.4.2019 FOR WHICH NO SEPARATE N OTICE SHALL BE ISSUED. 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