Khurshid Alam, Bokaro V. ITO, Hazaribagh

SA 3/RAN/2016

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 9623 (ITAT-RANCHI)
• Duration Of Justice: 2 year(s) 11 month(s) 17 day(s)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 05-04-2019
• Appeal Filed By: Assessee
• Bench Allotted: Not Allotted
• Assessment Year: 2010-2011
• Appeal Filed On: 18-04-2016
• Court: TRIBUNAL
• Keywords: Recovery proceedings; Application of stay

Judgement Text

1 S.A NO. 03/RAN/2016, AY 2010-11 KHURSHID ALAM IN THE INCOME TAX APPELLATE TRIBUNAL: RANCHI BENCH, RANCHI [BEFORE SHRI N. V. VASUDEVAN, JM & SHRI M. BALAGAN ESH, AM] S. A NO.03/RAN/2016 IN I.T.A NO. 120/RAN/2016 ASSESSMENT YEAR: 2010-11 KHURSHID ALAM VS. INCOME-TAX OFFICER, WD-2(7), JHIRKI, KATHARA, BOKARO-829116 (NEW WARD-1(3), HA ZARIBAGH (PAN: AHXPA0635P) (APPLICANT) (RESPONDENT) DATE OF HEARING: 09.09.2016 DATE OF PRONOUNCEMENT: 09.09.2016 FOR THE APPLICANT: SHRI M. K. CHOUDHURY, ADVOCATE FOR THE RESPONDENT: SHRI ABHAY KUMAR, DR ORDER PER SHRI M. BALAGANESH, AM: BY VIRTUE OF THIS STAY PETITION THE ASSESSEE SEEKS TO KEEP THE DEMAND OF RS.5,44,130/- FOR AY 2010-11 IN ABEYANCE. THIS DEM AND COMPRISES OF TAX COMPONENT OF RS.4,32,685/- AND INTEREST COMPONENT O F RS.1,51,445/-. 2. THE LD.AR ARGUED THAT THE ASSESSEE IS AN EMPLOY EE OF CENTRAL COALFIELDS LTD. DRAWING NET SALARY OF RS.40,000/- PER MONTH WH ICH WOULD ONLY TAKE CARE OF HIS FAMILY EXPENDITURE COMPRISING OF FOUR SONS, WIFE AN D DAUGHTER. SO ANY RECOVERY PROCEEDINGS INITIATED AT THIS POINT OF TIME IN THE SE FACTS AND CIRCUMSTANCES WOULD ONLY RESULT IN GENUINE FINANCIAL HARDSHIP TO THE AS SESSEE. HE FURTHER ARGUED THAT INTEREST COMPONENT OF RS.1,51,445/- ANY WAY IS COVE RED BY THE DECISION OF HONBLE JURISDICTIONAL HIGH COURT IN FAVOUR OF THE ASSESSEE WHICH HAS BEEN LEVIED ON THE ASSESSED INCOME INSTEAD OF RETURNED INCOME. ON QUE RY FROM THE BENCH FOR PAYMENT OF SOME INSTALMENTS, THE LD. AR FAIRLY AGREED FOR P AYMENT OF RS.25,000/- ON OR BEFORE 15.11.2016 AND SOUGHT FOR STAY OF THE BALANC E DEMAND. IN RESPONSE TO THIS, THE LD.DR FAIRLY AGREED FOR THE SAME. 2 S.A NO. 03/RAN/2016, AY 2010-11 KHURSHID ALAM 3. WE HAVE HEARD RIVAL SUBMISSIONS AND GONE THROUGH FACTS AND CIRCUMSTANCES OF THE CASE. IN THE FACTS AND CIRCUMSTANCES OF THE CASE AND TAKING INTO ACCOUNT THE FINANCIAL HARDSHIP THAT MIGHT CAUSE ON THE ASSESSEE IN VIEW OF ANY RECOVERY PROCEEDINGS, WE HEREBY DIRECT THE ASSESSEE TO PAY A SUM OF RS.25,000/- ON OR BEFORE 15.11.2016 AND PRODUCE THE EVIDENCE FOR SUCH PAYMEN T BEFORE US. ONCE THE SAID PAYMENT IS MADE BY THE ASSESSEE, THE ASSESSEE SHALL NOT BE TREATED AS ASSESSEE NOT IN DEFAULT FOR THE REMAINING PORTION OF THE DEMAND. THIS STAY OF DEMAND SHALL BE VALID FOR A PERIOD OF SIX MONTHS FROM THE DATE OF T HIS ORDER OR TILL THE DISPOSAL OF THE APPEAL BY THE TRIBUNAL, WHICHEVER IS EARLIER. THE ASSESSEE IS ALSO GRANTED OUT OF TURN HEARING AND WE HEREBY DIRECT THE REGISTRY TO F IX THE CASE AS AND WHEN THE NEXT BENCH IS SCHEDULED. WE ORDER ACCORDINGLY. HENCE, THE STAY PETITION OF THE ASSESSEE IS ALLOWED AS INDICATED ABOVE. 4. IN THE RESULT, STAY PETITION OF ASSESSEE IS ALLO WED AS INDICATED ABOVE. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- (N. V. VASUDEVAN) (M. BALAGANESH) JUDICIAL MEMBER ACCOUNTAN T MEMBER DATED :9 TH SEPTEMBER, 2016 JD.(SR.P.S.) COPY OF THE ORDER FORWARDED TO: 1 . APPLICANT 2 RESPONDENT 3 . THE CIT(A), 4. 5. CIT DR, ITAT, RANCHI / TRUE COPY, BY ORDER, ASSTT. REGISTRAR . 3 S.A NO. 03/RAN/2016, AY 2010-11 KHURSHID ALAM