Shri Girish Kumar Tayal, Indore V. THE DCIT 5(1), Indore

SA 59/Ind/2018

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 0400 (ITAT-INDORE)
• Duration Of Justice: 4 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-03-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2011-2012
• Appeal Filed On: 05-11-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R P MOURYA
• Keywords: Application of stay

Judgement Text

GIRISH KUMAR TAYAL SA NO.59/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. 59/IND/2018 ARISING OUT OF I.T.A. NO. 397/IND/2018 ASSESSMENT YEAR : 2011-12 SHRI GIRISH KUMAR TAYAL :: APPLICANT PROP. M/S PRADEEP COTX INDUSTRIES, 4, MAA DURGA NAGAR, INDORE. VS. DEPUTY COMMISSIONER OF :: RESPONDENT INCOME TAX, 5(1), INDORE. PAN: AATPT3581G APPLICANT BY : SHRI GAGAN TIWARI , ADV . RESPONDENT BY : SHRI R.P. MOURYA , SR.DR DAT E OF HEARING 12.11 .2018 DATE OF PRONOUNCEMENT : 12 .11 .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. 21,64,648/- ON ACCOUNT OF PENALTY LEVIED U/S 271AAB OF THE INCOME-TAX ACT, 1961. GIRISH KUMAR TAYAL SA NO.59/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 11/IND/ 2018 DATED 19.03.2018 HAS GRANTED STAY OF DEMAND FOR 6 MONTHS OR DISPOSAL OF APPEAL WHICHEVER IS EARLIER SUBJECT TO PAYMENT OF R S.5,00,000/- WITHIN A WEEK. ACCORDINGLY THE ASSESSEE HAD PAID A SUM OF RS.5,00,000/- ON 21.03.2008. LD. COUNSEL FOR THE A SSESSEE FURTHER SUBMITTED THAT THE MATTER WAS FIXED FOR HEARING ON 10 . 10.2018 AND WAS ADJOURNED TO 21.01.2019 ON THE REQUEST OF REVEN UE. THE ASSESSEE HAS NOW SOUGHT 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 19.03.2018. CONSIDERING THE RIVAL SUBMISSIONS, WE A RE OF THE CONSIDERED VIEW THAT THE PRESENT STAY APPLICATIONS DESERVES TO BE ALLOWED. WE THEREFORE GRANT A FURTHER STAY OF 90 DA YS FROM THE DATE GIRISH KUMAR TAYAL SA NO.59/IND/2018 3 OF THIS ORDER OR BEFORE THE DISPOSAL OF APPEAL WHIC HEVER EVENT OCCURS EARLIER. 5. THE STAY APPLICATION IS DISPOSED OFF ACCORDINGLY SUBJECT TO CONDITIONS HEREIN ABOVE. ORDER WAS PRONOUNCED IN THE OPEN COURT ON 12.11.20 18 SD/- SD/- (KUL BHARAT) (MANISH BORAD) JUDICIAL MEMBER ACCOU NTANT MEMBER INDORE: 12 NOVEMBER, 2018 /DEV COPY TO: ASSESSEE/AO/PR. CIT/ CIT (A)/ITAT (DR)/GUA RD FILE. BY ORDER ASSTT.REGISTRAR, I.T.A.T., INDORE