M/s LG Soft India Pvt Ltd , Bangalore V. Deputy Commissioner of Income Tax Circle-4(1)(1), Bangalore

SA 60/BANG/2019

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 6220 (ITAT-BANGALORE)
• Duration Of Justice: 2 month(s) 15 day(s)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 01-05-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2014-2015
• Appeal Filed On: 15-02-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: B K BIJU CIT HEARD ON PRONOUNC
• Assessee Lawyers: K R VASUDEVAN

Judgement Text

SP.60/BANG/2019 PAGE - 1 IN THE INCOME TAX APPELLATE TRIBUNAL BENGALURU BENCH 'C', BENGALURU BEFORE SHRI. A. K. GARODIA, ACCOUNTANT MEMBER AND SHRI. LALIET KUMAR, JUDICIAL MEMBER STAY PETITION NO.60/BANG/2019 (IN I.T.A NO.3122/BANG/2018) (ASSESSMENT YEAR : 2014-15) L G SOFT INDIA P. LTD, EMBASSY TECH SQUARE, MARATHAHALLI- SARJAPUR OUTER RING ROAD, BENGALURU 560 103 .. APPLICANT PAN : AACCI4391P V. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -4(1)(1), BENGALURU .. RESPONDENT ASSESSEE BY : SHRI. K.R. VASUDEVAN, ADVOCATE REVENUE BY : SHRI. B. K. BIJU, ADDL. CIT HEARD ON : 22.02.2019 PRONOUNCED ON : 22.02.2019 O R D E R PER LALIET KUMAR, JUDICIAL MEMBER : THIS STAY PETITION IS FILED BY THE ASSESSEE, SEEKI NG STAY OF THE OUTSTANDING DEMAND OF RS.8,50,79,720/- FOR THE ASSE SSMENT YEAR 2014-15. SP.60/BANG/2019 PAGE - 2 02. AT THE OUTSET, THE LD. AR HAS SUBMITTED THAT TH E ASSESSEE HAD DEPOSITED AN AMOUNT OF RS.2,80,00,000/- ON 13.02.20 19 AND HAS FURTHER OFFERED TO PAY A SUM OF RS.20 LAKHS IN ADDI TION TO THE ABOVE STATED SUM, THE LD. AR PRAYED FOR STAY OF THE OUTST ANDING DEMAND. THE LD. AR ALSO PRAYED FOR EARLY HEARING OF THE APP EAL. 03. ON THE OTHER HAND THE LD. DR SUBMITTED THAT THE ASSESSEE BE DIRECTED TO PAY 50% OF THE REMAINING DEMAND. 04. WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE RECORD. WE FIND THAT THE ASSESSEE HAD ALREADY PAID 51.34% O F THE TAX DEMAND AND HAD ALSO VOLUNTARILY OFFERED TO PAY RS.2 0 LAKHS IN ADDITION TO THE AMOUNT OF DEMAND ALREADY PAID. THE ASSESSEE HAD ALSO MADE OUT A GROUND OF PRIMA FACIE CASE IN ITS F AVOUR. THEREFORE, WE DIRECT THE ASSESSEE TO PAY A SUM OF RS.20 LAKHS ON OR BEFORE 15.03.2019. WE THEREFORE, GRANT STAY OF THE BALANC E AMOUNT FOR A PERIOD OF SIX MONTHS OR TILL THE DISPOSAL OF THE AP PEAL WHICHEVER. WE FIND THAT THE APPEAL IS ALREADY POSTED FOR HEARI NG ON 11.06.2019. WE ARE ALSO GRANTING EARLY HEARING OF THE APPEAL. THE APPEAL IS NOW POSTED FOR HEARING ON 02.04.2019, INSTEAD OF THE EA RLIER DATE OF HEARING OF 11.06.2019. NO NOTICE OF HEARING SHALL BE SERVED AS THE PREPONED DATE OF HEARING, VIZ., 02.04.2019 WAS ANNO UNCED IN THE OPEN COURT. WE DIRECT THAT THE ASSESSEE SHALL NOT SEEK ADJOURNMENT WITHOUT JUSTIFIABLE REASONS. SP.60/BANG/2019 PAGE - 3 05. IN THE RESULT, THE STAY PETITION FILED BY THE A SSESSEE IS DISPOSED OFF TO THE ABOVE MENTIONED EXTENT. ORDER PRONOUNCED IN THE OPEN COURT ON 22 ND FEBRUARY, 2019. SD/- SD/- (A. K. GARODIA) (LALIET KUMAR) ACCOUNTANT MEMBER JUDICIAL MEMBE R BENGALURU DATED : 22.02.2019 MCN* COPY TO: 1. THE ASSESSEE 2. THE ASSESSING OFFICER 3. THE COMMISSIONER OF INCOME-TAX 4. COMMISSIONER OF INCOME-TAX(A) 5. DR 6. GF, ITAT, BANGALORE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL, BANGALORE.