Sri Prakash Kumar, Ranchi V. ITO,Ward-1(3), Ranchi

SA 37/RAN/2019

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 9786 (ITAT-RANCHI)
• Duration Of Justice: 23 day(s)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 05-04-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2015-2016
• Appeal Filed On: 13-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Application of stay

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL RANCHI E COURT AT KOLKATA [BEFORE SHRI P.M. JAGTAP, VICE PRESIDENT & SHRI S.S. VISWANETHRA RAVI, JM] S.P. NO. 37/RAN/2019 (ARISING OUT OF ITA NO. 18/RAN/2019) ASSESSMENT YEAR: 2015-16 PRAKASH KUMAR...................................APPELLANT H/347, ADARSH NAGAR, DHURWA, RANCHI, JHARKHAND. [PAN : DFEPK 3128 F] ITO, WARD 1(3) RANCHI...................................RESPONDENT RANCHI. APPEARANCES BY: SHRI ALOK SHARAN PRASAD, CA APPEARING ON BEHALF OF THE ASSESSEE. SHRI A.K. MOHANTY, JCIT, SR. DR APPEARING ON BEHALF OF THE REVENUE. DATE OF CONCLUDING THE HEARING : MARCH 29, 2019 DATE OF PRONOUNCING THE ORDER : MARCH 29, 2019 O R D E R PER P.M. JAGTAP, VICE PRESIDENT BY THIS STAY PETITION, THE ASSESSEE IS SEEKING STAY OF OUTSTANDING DEMAND OF RS. 5,95,670/- FOR A.Y. 2015-16. 2. WE HAVE HEARD THE ARGUMENTS OF BOTH THE SIDES AND ALSO PERUSED THE RELEVANT MATERIAL AVAILABLE ON RECORD. AS SUBMITTED BY THE LEARNED COUNSEL FOR THE ASSESSEE, BUSINESS OF THE ASSESSEE IS ALREADY CLOSED THREE YEARS BACK AND HE IS CURRENTLY EMPLOYED IN A PRIVATE COMPANY AT BANGALORE DRAWING MODERATE SALARY. HE HAS SUBMITTED THAT THE ASSESSEE IS NOT IN A POSITION TO PAY THE OUTSTANDING DEMAND AND INSPITE OF FINANCIAL CONSTRAINTS, HE HAS MOBILIZED THE FUND AND PAID AN AMOUNT OF RS. 1,50,000/- AGAINST THE OUTSTANDING DEMAND WHICH AS ORIGINALLY RAISED WAS 7,44,670/-. THE ASSESSEE THUS HAS PAID MORE THAN 20% OF THE OUTSTANDING DEMAND AS 2 S.A. NO. 37/RAN/2019 (A.Y. 2015-16) PRAKASH KUMAR ORIGINALLY RAISED AND KEEPING IN VIEW THIS FACT AS WELL AS ALL OTHER FACTS OF THE CASE, WE ARE OF THE VIEW THAT IT IS A FIT CASE TO GRANT THE STAY OF OUTSTANDING DEMAND OF RS. 5,95,670/-. WE ACCORDINGLY DIRECT THAT THE SAID OUTSTANDING DEMAND BE KEPT IN ABEYANCE FOR A PERIOD OF 6 MONTHS OR TILL THE DISPOSAL OF THE CORRESPONDING APPEAL OF THE ASSESSEE BY THE TRIBUNAL WHICHEVER IS EARLIER. THE REGISTRY IS DIRECTED TO FIX THE SAID APPEAL FOR HEARING OUT OF TURN BEFORE THE NEXT TOURING BENCH / E-COURT. 3. IN THE RESULT, THE STAY APPLICATION OF THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 29 TH MARCH, 2019 SD/- SD/- (S.S.VISWANETHRA RAVI) (P.M. JAGTAP) JUDICIAL MEMBER VICE PRESIDENT DATED: 29/03/2019 BISWAJIT, SR. PS COPY OF ORDER FORWARDED TO: 1. PRAKASH KUMAR, H/347, ADARSH NAGAR, DHURWA, RANCHI, JHARKHAND. 2. ITO, WARD 1(3), RANCHI. 3. THE CIT(A) 4. THE CIT 5. DR TRUE COPY, BY ORDER, ASSISTANT REGISTRAR ITAT, RANCHI BENCHES