S. Sivarama Reddy, Visakhapatnam V. The ITO, Visakhapatnam

SA 6/VIZ/2016

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 3797 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 2 year(s) 10 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-05-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2010-2011
• Appeal Filed On: 30-06-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: T SATYANADHAM
• Keywords: Application of stay

Judgement Text

SP NOS.6 TO 9/VIZAG/2016 S. SIVARAMA REDDY, VISAKHAPATNAM 1 , , IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM . , . , $ BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER & SHRI G. MANJUNATHA, ACCOUNTANT MEMBER S.P. NOS.6 TO 9/VIZAG/2016 (ARISING OUT OF I.T.A.NOS.273, 275, 276 & 277/VIZAG /2015) ( / ASSESSMENT YEARS: 2010-11, 2011-12, 2012-13 & 20 12-13) S. SIVA RAMA REDDY, VISAKHAPATNAM VS. ITO, WARD - 1(4), VISAKHAPATNAM [PAN: AIXPS6613A ] ( % / APPELLANT) ( &'% / RESPONDENT) / APPELLANT BY : SHRI G.V.N. HARI, AR / RESPONDENT BY : SHRI T . SATYANADHAM, DR / DATE OF HEARING : 12.08.2016 / DATE OF PRONOUNCEMENT : 12.08.2016 / O R D E R PER G. MANJUNATHA, ACCOUNTANT MEMBER: THESE STAY APPLICATIONS ARE FILED BY THE ASSESSEE, SEEKING STAY OF OUTSTANDING DEMAND OF TAX AND INTEREST FOR THE ASSE SSMENT YEARS 2010- 11, 2011-12 & 2012-13. SINCE, THE FACTS ARE IDENTI CAL AND ISSUES ARE SP NOS.6 TO 9/VIZAG/2016 S. SIVARAMA REDDY, VISAKHAPATNAM 2 COMMON, THEY ARE HEARD TOGETHER AND DISPOSED OFF, B Y THIS COMMON ORDER FOR THE SAKE OF CONVENIENCE. 2. THE LD. A.R. FOR THE ASSESSEE SUBMITTED THAT THE ASSESSEE IS HAVING A PRIMA FACIE CASE AND ALSO BALANCE OF CONVE NIENCE IN HIS FAVOUR AS THE ADDITIONS MADE BY THE A.O. ARE PURELY ON EST IMATION BASIS, WHICH WAS SUBSTANTIALLY REDUCED BY THE CIT(A). THE A.R. FURTHER SUBMITTED THAT THE ASSESSEE IS HAVING STRONG CASE IN HIS FAVO UR AND LIKELY TO GET FURTHER RELIEF FROM THE TRIBUNAL. THE A.R. FURTHER SUBMITTED THAT THE ASSESSEE IS HAVING FINANCIAL HARDSHIP TO PAY THE DE MAND, THEREFORE, REQUESTED TO STAY THE DEMAND TILL DISPOSAL OF APPEA L BY THIS TRIBUNAL. THE LD. D.R. STRONGLY OBJECTING THE ABSOLUTE STAY O F DEMAND, REQUESTED TO PAY ATLEAST 50% OF DEMAND AND BALANCE MAY BE STA YED TILL DISPOSAL OF THE APPEAL BY THE TRIBUNAL. IN REPLY, THE LD. A.R. FOR THE ASSESSEE SUBMITTED THAT THE ASSESSEE IS WILLING TO PAY 25% D EMAND IN 3 INSTALMENTS, THEREFORE, A CONDITIONAL STAY MAY BE G RANTED SUBJECT TO PAYMENT OF TAX. 4. HAVING HEARD BOTH THE PARTIES AND CONSIDERED THE MATERIALS AVAILABLE ON RECORD, WE ARE OF THE VIEW THAT THE AS SESSEE IS HAVING A PRIMA FACIE CASE IN HIS FAVOUR, THEREFORE, IT IS A FIT CASE FOR CONDITIONAL STAY OF DEMAND FOR A PERIOD OF 3 MONTHS OR TILL DIS POSAL OF APPEAL BY THIS SP NOS.6 TO 9/VIZAG/2016 S. SIVARAMA REDDY, VISAKHAPATNAM 3 TRIBUNAL. ACCORDINGLY, WE DIRECT THE A.O. TO GRANT STAY OF DEMAND FOR A PERIOD OF 3 MONTHS FROM THE DATE OF THIS ORDER SUBJ ECT TO PAYMENT OF ` 10 LAKHS IN 3 INSTALMENTS OF ` 5 LAKHS, ` 3 LAKHS & ` 2 LAKHS STARTING FROM 1 ST INSTALMENT OF ` 5 LAKHS ON OR BEFORE 31.8.2016, NEXT INSTALMENT OF ` 3 LAKHS ON OR BEFORE 30.9.2016 AND FINAL INSTALMENT O F ` 2 LAKHS ON OR BEFORE 31.10.2016. THE ASSESSEE IS DIRECTED TO PAY THE AMOUNT AS AGREED PROMPTLY AND SUBMIT THE PROOF OF PAYMENT OF TAX TO THE A.O. THE REGISTRY IS DIRECTED TO POST THE CASE FOR HEARI NG ON 1.11.2016. THE ASSESSEE IS DIRECTED TO NOT TO SEEK ANY ADJOURNMENT . WITH THESE OBSERVATIONS, THE STAY APPLICATIONS FILED BY THE AS SESSEE IN SP NOS.6 TO 9/VIZAG/2016 ARE DISPOSED OF. THE ABOVE ORDER WAS PRONOUNCED IN THE OPEN COURT ON 12 TH AUG16. SD/- SD/- ( . ) ( . ) (V. DURGA RAO) (G. MANJUNATHA) /JUDICIAL MEMBER /ACCOUNTANT MEMBER ! /VISAKHAPATNAM: % /DATED : 12.08.2016 VG/SPS SP NOS.6 TO 9/VIZAG/2016 S. SIVARAMA REDDY, VISAKHAPATNAM 4 )! *! /COPY OF THE ORDER FORWARDED TO:- 1. / THE APPELLANT S. SIVARAMA REDDY, PROP. SRI SIV ARAMA SWEETS, D.NO.28-2-23, SURYABAGH, VISAKHAPATNAM. 2. / THE RESPONDENT THE ITO WARD-1(4), VISAKHAPATNA M 3. + / THE CIT-1, VISAKHAPATNAM 4. + ( ) / THE CIT (A), VISAKHAPATNAM 5. ! . , . , ! / DR, ITAT, VISAKHAPATNAM 6 . / GUARD FILE / BY ORDER // TRUE COPY // 12 . (SR.PRIVATE SECRETARY) . , ! / ITAT, VISAKHAPATNAM