M/s. Pumarth Properties & Holdings Pvt. Ltd., Indore V. THE ACIT (CENTRAL) I, Indore

SA 46/Ind/2018

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 0391 (ITAT-INDORE)
• Duration Of Justice: 7 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-03-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2012-2013
• Appeal Filed On: 08-08-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R P MOURYA
• Keywords: Application of stay

Judgement Text

PUMARTH PROPERTIES & HOLDING PVT. LTD SA NOS. 46/IND/2018 1 IN THE INCOME TAX APPELLATE TRIBUNAL, INDORE BENCH, INDORE BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER AND SHRI MANISH BORAD, ACCOUNTANT MEMBER S.A. NO. 46/IND/2018 I.T.A. NO. 291/IND/2017 ASSESSMENT YEAR : 2012-13 M/S.PUMARTH PROPERTIES :: APPLICANT & HOLDING PVT.LTD., INDORE. VS. ASSISTANT COMMISSIONER OF :: RESPONDENT INCOME TAX, CENTRAL (1), INDORE. PAN: AACCP0838Q APPLICANT BY : SHRI SUMIT NEMA, SR.ADVOCATE WITH SHRI GAGAN TIWARI, ADV . RESPONDENT BY : SHRI R.P. MOURYA , SR.DR DATE OF HEA RING 20.08.2018 DATE OF PRONOUNCEMENT : 20 .08.2018 O R D E R PER MANISH BORAD, A.M. : THIS APPLICATION IS FILED BY THE ASSESSEE SEEKING S TAY OF THE DEMAND OF RS. 84,35,000/- ON ACCOUNT OF PENALTY LEVIED U/S 271AAB OF THE INCOME-TAX ACT, 1961. PUMARTH PROPERTIES & HOLDING PVT. LTD SA NOS. 46/IND/2018 2 2. . LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT THE AS SESSEE AS PER ORDERS OF HON'BLE TRIBUNAL VIDE ORDER NO.SA 13/IND/ 2018 DATED 22.03.2018 HAS GRANTED STAY OF DEMAND FOR 90 DAYS O R DISPOSAL OF APPEAL WHICHEVER IS EARLIER SUBJECT TO PAYMENT OF R S.2,50,000/- BEFORE 31.03.2018. ACCORDINGLY THE ASSESSEE HAD PA ID A SUM OF RS. 2,50,000/- ON 31/03/2018 AND COMPLIED OTHER CONDITI ONS MENTIONED IN THE ORDER. HOWEVER THE MATTER COULD N OT BE DISPOSED OFF WITHIN THE STIPULATED PERIOD OF 90 DAYS AS THE MATTER WAS FIXED FOR HEARING LAST ON 02.08.2018 AND WAS ADJOURNED TO 11.09.2018 ON THE REQUEST OF REVENUE. THE ASSESSEE HAS NOW SOUGH T EXTENSION OF THE ABOVE STAY DEMAND TILL THE DISPOSAL OF CASE BY THE TRIBUNAL. 3. ON THE OTHER HAND, THE LD. DEPARTMENTAL REPRESENTAT IVE OPPOSED THE REQUEST BUT COULD NOT CONTROVERT THE ABOVE SUBM ISSION. 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 EXTENSION OF THE STAY ALREADY GRANTED BY US VIDE OR DER DATED 22.03.2018 AND AS EXPLAINED ABOVE, THE ASSESSEE HAS COMPLIED WITH THE DIRECTIONS OF THE BENCH BY WAY OF DEPOSITING TH E PART DEMAND. CONSIDERING THE RIVAL SUBMISSIONS, WE ARE OF THE CO NSIDERED VIEW THAT THE PRESENT STAY APPLICATIONS DESERVES TO BE A LLOWED. WE PUMARTH PROPERTIES & HOLDING PVT. LTD SA NOS. 46/IND/2018 3 THEREFORE GRANT A FURTHER STAY OF 90 DAYS FROM THE DATE OF THIS ORDER OR BEFORE THE DISPOSAL OF APPEAL WHICHEVER EVENT OC CURS EARLIER SUBJECT TO THE SAME CONDITIONS AS MENTIONED IN OUR EARLIER STAY ORDER DATED 22.3.18 EXCEPT THE (I) CONDITION OF PAR A 3. 5. THE STAY APPLICATION IS DISPOSED OFF ACCORDINGLY SUBJECT TO CONDITIONS HEREIN ABOVE. ORDER WAS PRONOUNCED IN THE OPEN COURT ON 20.08.201 8 SD/- SD/- (KUL BHARAT) (MANISH BORAD) JUDICIAL MEMBER ACCOU NTANT MEMBER INDORE; 20 AUGUST, 2018 /DEV COPY TO: ASSESSEE/AO/PR. CIT/ CIT (A)/ITAT (DR)/GUA RD FILE. BY ORDER PRIVATE SECRETARY/DDO, INDORE .