SHRI KHALID NADEEM ALLARAKHA, Nagpur V. I.T.O. WARD -3(4), Nagpur

SA 6/NAG/2017

• Counselvise Citation: [2014] 129 COUNSELVISE.COM (IT) 9939 (ITAT-NAGPUR)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 23-10-2014
• Appeal Filed By: Assessee
• Bench Allotted: DB
• Assessment Year: 2009-2010
• Appeal Filed On: 29-03-2017
• Court: TRIBUNAL
• Department Lawyers: A R NINAWE
• Keywords: Application of stay
• Section: 40A(3); 40(a)(ia)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL NAGPUR BENCH, NAGPUR BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER AND SHRI RAM LAL NEGI, JUDICIAL MEMBER S.A. NO.6/NAG./2017 (ARISING OUT OF ITA NO.9/NAG./2017 ) (ASSESSMENT YEAR : 200910 ) KHALID NADEEM ALLARAKHA SHOP NO.31, PROP. KISAN ALU CO. KALAMNA MARKET, NAGPUR PAN ABHPA7108H . APPLICANT V/S DY. COMMISSIONER OF INCOME TAX CIRCLE4, NAGPUR . RESPONDENT ASSESSEE BY : SHRI MANOJ G. MORYANI REVENUE BY : SHRI A.R. NINAWE DATE OF HEARING 31.03.2017 DATE OF ORDER 31.03 .2017 O R D E R PER SHAMIM YAHYA, A.M. BY WAY OF THIS STAY APPLICATION, THE ASSESSEE SEEKS STAY OF DEMAND OF OUTSTANDING TAX AND INTEREST AMOUNTING TO ` 49,75,841, FOR THE ASSESSMENT YEAR 20092010. 2. WE HAVE HEARD BOTH THE COUNSEL AND PERUSED THE RECO RDS. LEARNED COUNSEL OF THE ASSESSEE SUBMITTED THAT IN T HE CORRESPONDING APPEAL, THE DISALLOWANCE IS RELATED TO PAYMENTS MAD E IN VIOLATION OF SECTION 40A(3) AND SECTION 40(A)(IA) OF THE ACT. LE ARNED COUNSEL SUBMITTED THAT AS REGARDS DISALLOWANCE FOR CASH PAY MENT THE KHALID NADEEM ALLARAKHA 2 AUTHORITIES BELOW HAVE NOT APPRECIATED THAT PAYMENT S HAVE ACTUALLY BEEN MADE BY DEPOSITING IN THE BANK ACCOUNTS OF PAY EES. FURTHERMORE, HE SUBMITTED THAT ALL THE PAYMENTS HAV E BEEN MADE AND NO AMOUNT IS OUTSTANDING AT THE CLOSE OF THE YEAR. HENCE, HE SUBMITTED THAT PROVISIONS OF SECTION 40(A)(IA) ARE ALSO NOT ATTRACTED. HENCE, LEARNED COUNSEL PLEADED THAT THE CASE ASSESS EE HAS A GOOD PRIMA-FACIE CASE STAY OF DEMAND SHOULD BE GRANTED. PER-CONTRA, THE LEARNED DEPARTMENTAL REPRESENTATIVE OPPOSED THE PLE A FOR STAY. 3. UPON CAREFUL CONSIDERATION, WE ARE OF THE CONSIDERED OPINION THAT IN THE PRESENT CASE, THE ASSESSEE CAN BE GRANTED CO NDITIONAL STAY. HENCE, THE ASSESSEE IS GRANTED STAY OF DEMAND ON TH E CONDITION THAT ASSESSEE SHALL BE PAYING A SUM OF RS.1 LAKH BY THE END OF EVERY MONTH BEGINNING WITH APRIL 2017. REGISTRY IS DIRECTED TO FIX THE CASE FOR HEARING ON PRIORITY BASIS AT THE NEXT BENCH. IN TER MS OF ABOVE THE ASSESSEE IS GRANTED STAY OF DEMAND FOR A PERIOD OF 180 DAYS FROM THE DATE OF THIS ORDER. 4. IN THE RESULT, THIS STAY APPLICATION IS DISPOSED OF IN TERMS INDICATED ABOVE. ORDER PRONOUNCED IN THE OPEN COURT ON 31.03.2017 SD/ - RAM LAL NEGI JUDICIAL MEMBER SD/ - SHAMIM YAHYA ACCOUNTANT MEMBER NAGPUR, DATED: 31.03.2017 KHALID NADEEM ALLARAKHA 3 COPY OF THE ORDER FORWARDED TO : (1) THE ASSESSEE; (2) THE REVENUE; (3) THE CIT(A); (4) THE CIT, NAGPUR CITY CONCERNED; (5) THE DR, ITAT, NAGPUR; (6) GUARD FILE. TRUE COPY BY ORDER PRADEEP J. CHOWDHURY SR. PRIVATE SECRETARY (DY./ASSTT. REGISTRAR) ITAT, NAGPUR