ASHISH CHOUDHARY, Nagpur V. ACIT, CENTRAL-CIRCLE-1(3), Nagpur

SA 6/NAG/2014

• Counselvise Citation: [2014] 117 COUNSELVISE.COM (IT) 8851 (ITAT-NAGPUR)
• Duration Of Justice: 9 month(s)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 23-10-2014
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2007-2008
• Appeal Filed On: 23-01-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PRITI JAIN DASDR
• Assessee Lawyers: M MANI
• Keywords: Application of stay

Judgement Text

, ( (( ( - -- - ) )) ) IN THE INCOME TAX APPELLATE TRIBUNAL,BENCH NAGPUR.( E-COURT) . .. . . .. . , ! ' ' ' ' #$%&, $' () BEFORE S.SH.H.L.KARWA, PRESIDENT AND RAJENDRA, ACCOUNTANT MEMBER S.A. NO. 06/NAG/2014(ARISING OUT OF ITA NO. 155/NAG /2013)-ASSESSMENT YEAR 2007-08 ASHISH CHOUDHARY, CHOUDHARY BHAVAN, SAKKARDHARA, NAGPUR-440009 PAN: AGRPC7836R VS. ASST. COMMISSIONER OF INCOME TAX, CIRCLE 1(3) NAGPUR. ( *+ / APPELLANT) ( ,-*+ /RESPONDENT) S.A. NO. 07/NAG/2014(ARISING OUT OF ITA NO. 156/NAG /2013)-ASSESSMENT YEAR 2007-08 KRISHNA CHOUDHARY, CHOUDHARY BHAVAN, SAKKARDHARA, NAGPUR-440009 PAN: AGRPC7836R VS. ASST. COMMISSIONER OF INCOME TAX, CIRCLE 1(3) NAGPUR. ( *+ / APPELLANT) ( ,-*+ /RESPONDENT) *+ . $ / APPELLANT BY : SHRI M.MANI ,-*+ / . $ /RESPONDENT BY : SHRI PRITI JAIN DAS(DR) / 01' / DATE OF HEARING : 24-01-2013 23 / 01' / DATE OF PRONOUNCEMENT : 24-01-2014 ($4 / O R D E R PER RAJENDRA, A.M. S.A. NO. 06/NAG/2014- VIDE STAY APPLICATION FILED AS ABOVE THE ASSESSEE I S SEEKING THE STAY OF OUTSTANDING DEMAND OF RS.92,20,490/- FOR THE AY- 2007-08.APPLICATION IS A CCOMPANIED BY HIS AFFIDAVIT.IN THIS MATTER AN ACTION U/S.132(1) OF THE ACT WAS CARRIED OUT ON 13.01.2009 AND THE ASSESSING OFFICER (AO) FINALISED THE ASSESSMENT ON 27.12.2010,U/S.153A R.W .S.143(3) OF THE ACT DETERMINING HIS INCOME AT RS.1.76 CRORES.AO MADE ADDITION UNDER THE HEAD LONG TERM CAPITAL GAINS(LTCG). 2. BEFORE US,AUTHORISED REPRESENTATIVE (AR) OF THE ASS ESSEE SUBMITTED THAT APPEAL WAS FILED BEFORE THE TRIBUNAL AGAINST THE ORDER OF THE FIRST APPELLATE AUTHORITY (FAA),THAT THE ASSESSEE HAD FAIR CHANCE OF GETTTING A FAVOURABLE ORDER.DEPA RTMENTAL REPRESENTATIVE (DR) SUBMITTED THAT ASSESSEE HAD NOT PAID TAX/INTEREST TILL DATE, THAT ASSESSEE HAD RECEIVED HUGE SUMS OF AMOUNT ON SALE OF PLOT OF LAND. 3. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL BEFORE US.CONSIDERING THE FACTS AND CIRCUMSTANCES OF THE CASE,WE ARE OF THE OPINION THAT THE DEMAND RAISED BY THE AO SHOULD BE STAYED SUBJECT TO PAYMENT OF RS.10 LACS BY THE A SSESSEE BY 28.02.2004.SUBJECT TO THE PAYMENT BY THE ASSESSEE,THE STAY SHALL REMAIN IN OP ERATION FOR A PERIOD OF SIX MONTHS FROM THE DATE OF THIS ORDER.IN THE RESULT, THE STAY APPLICAT ION FILED BY THE ASSESSEE IS CONSIDERED TO BE ALLOWED IN THE MANNER AFORESAID. S.A. NO. 6/NAG/2014 ( ARISING OUT OF ITA NO.155/NAG/2013) ASHISH CHOUDHARY 2 SA.NO 07/NAG/2014 KRISHNA CHOUDHARY 4. ASSESSEE,SMT.KRISHNA CHOUDHARY,WIFE OF SHRI ASHISH CHOUDHARY HAS ALSO FILED A STAY- APPLICATION.FACTS OF HER CASE ARE IDENTICAL TO THE FACTS OF THE CASE OF HER HUSBAND-EXCEPT THE FACT THAT IN HER CASE INCOME(INCLUDING LTCG) WAS ASSESSE D AT RS.2.28 CRORES.FOLLOWING OUR ORDER IN THE CASE OF ASHISH CHOUDHARY,WE GRANT STAY OF DE MAND SUBJECT TO PAYMENT OF RS. 10 LACS BY THE ASSESSEE BY 28.02.2014. AS A RESULT,STAY APPLICATIONS FILED BY BOTH THE ASSESSEES STAND ALLOWED. 506( 7 807 9 :' $ )* $ (;' / ;#' :'#< / #0 =>. ORDER PRONOUNCED IN THE OPEN COU RT ON 24 TH DAY OF JANUARY,2014. ($4 / 23 '$ % :? ($4 / 23 '$ % :? ($4 / 23 '$ % :? ($4 / 23 '$ % :? 24.01.2014 / / / / . .. . SD/ SD/- ( . .. . . .. . / H.L. KARWA) ( #$%& / RAJENDRA) ! / PRESIDENT $' () / ACCOUNTANT MEMBER :'@ / MUMBAI, A( ' /DATE: 24.01,2014 SK ($4 ($4 ($4 ($4 / // / ,0B ,0B ,0B ,0B C$B30 C$B30 C$B30 C$B30 / COPY OF THE ORDER FORWARDED TO : 1. ASSESSEE / *+ 2. RESPONDENT / ,-*+ 3. THE CONCERNED CIT(A)/ '@D E , 4. THE CONCERNED CIT / '@D E 5. DR NAGPUR BENCH, ITAT, NAGPUR / BF ,0 , . . % . 6. GUARD FILE/ G 5 -B0 -B0 -B0 -B0 ,0 ,0,0 ,0 //TRUE COPY// ($4 / BY ORDER, H / = '# DY./ASST. REGISTRAR , :'@ /ITAT, MUMBAI S.A. NO. 6/NAG/2014 ( ARISING OUT OF ITA NO.155/NAG/2013) ASHISH CHOUDHARY 3 , ( (( ( - -- - ) )) ) IN THE INCOME TAX APPELLATE TRIBUNAL,BENCH NAGPUR.( E-COURT) . .. . . .. . , ! ' ' ' ' #$%&, $' () BEFORE S.SH.H.L.KARWA, PRESIDENT AND RAJENDRA, ACCOUNTANT MEMBER S.A. NO. 06/NAG/2014(ARISING OUT OF ITA NO. 155/ NAG/2013)-ASSESSMENT YEAR 2007-08 ASHISH CHOUDHARY, CHOUDHARY BHAVAN, SAKKARDHARA, NAGPUR-440009 PAN: AGRPC7836R VS. ASST. COMMISSIONER OF INCOME TAX, CIRCLE 1(3) NAGPUR. ( *+ / APPELLANT) ( ,-*+ /RESPONDENT) S.A. NO. 07/NAG/2014(ARISING OUT OF ITA NO. 156/NAG /2013)-ASSESSMENT YEAR 2007-08 KRISHNA CHOUDHARY, CHOUDHARY BHAVAN, SAKKARDHARA, NAGPUR-440009 PAN: AGRPC7836R VS. ASST. COMMISSIONER OF INCOME TAX, CIRCLE 1(3) NAGPUR. ( *+ / APPELLANT) ( ,-*+ /RESPONDENT) *+ . $ / APPELLANT BY : SHRI M.MANI ,-*+ / . $ /RESPONDENT BY : SHRI PRITI JAIN DAS(DR) / 01' / DATE OF HEARING : 24-01-2013 23 / 01' / DATE OF PRONOUNCEMENT : 24-01-2014 CORRIGENDUM PER RAJENDRA, A.M. IN OUR ORDER DATED 24.01.2014, PASSED IN THE CAPTIO NED STAY ORDER, INADVERTENTLY THE FOLLOWING TYPOGRAPHICAL ERRORS HAVE CREPT IN. THE MISTAKES, B EING MINISTERIAL AND APPARENT ON THE FACE OF THE RECORD ARE RECTIFIED BY PASSING THE FOLLOWING C ORRIGENDUM: 1. PAN AGRPC7836R AS APPEARING ON THE CAUSE TITLE ON PAGE 1 BE READ AS AGWPC4574F. 2. RESPONDENT NAME SHRI PRITI JAIN DAS(DR) AS APPEAR ING ON PAGE 1 BE READ AS SMT. PRITI JAIN DAS(DR). 3. DATE OF HEARING 24.01.2013 AS APPEARING ON PAGE 1 BE READ AS 24.01.2014. SD/- SD/- ( . . / H.L. KARWA) ( #$%& / RAJENDRA) ! / PRESIDENT $' () / ACCOUNTANT MEMBER :'@ / MUMBAI, A( ' /DATE: 28.01,2014