M/s. Pumarth Properties & Holdings Pvt. Ltd., Indore V. THE ACIT (CENTRAL) I, Indore

SA 65/Ind/2018

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 0412 (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: 2012-2013
• Appeal Filed On: 05-11-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R P MOURYA
• Keywords: Application of stay

Judgement Text

PUMARTH PROPERTIES & HOLDING PVT. LTD SA NO.656/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. 65/IND/2018 ARISING OUT OF I.T.A. NO. 291/IND/2017 ASSESSMENT YEAR : 2012-13 M/S.PUMARTH PROPERTIES :: APPLICANT & HOLDING PVT.LTD., INDORE. VS. ASSISTANT COMMISSIONER OF :: RESPONDENT INCOME TAX, CENTRAL (1), INDORE. PAN: AACCP0838Q APPLICANT BY : SHRI GAGAN TIWARI , ADV . RESPONDENT BY : SHRI R.P. MOURYA , SR.DR DATE 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. 84,35,000/- ON ACCOUNT OF PENALTY LEVIED U/S 271AAB OF THE INCOME-TAX ACT, 1961. PUMARTH PROPERTIES & HOLDING PVT. LTD SA NO.656/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 46/IND/ 2018 DATED 20.08.2018 HAS GRANTED STAY OF DEMAND FOR 90 DAYS O R DISPOSAL OF APPEAL WHICHEVER IS EARLIER. LD. COUNSEL FOR THE AS SESSEE FURTHER SUBMITTED THAT THE MATTER COULD NOT BE DISPOSED OFF WITHIN THE STIPULATED PERIOD OF 90 DAYS AS THE MATTER WAS FIXE D FOR HEARING LAST ON 31.10.2018 AND WAS ADJOURNED TO 04.12.2018 ON TH E REQUEST OF REVENUE. 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 20.08.2018. 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 60 DA YS FROM THE DATE OF THIS ORDER OR BEFORE THE DISPOSAL OF APPEAL WHIC HEVER EVENT OCCURS EARLIER SUBJECT TO THE SAME CONDITIONS AS MENTIONED IN OUR EARLIER STAY ORDER DATED 20.08.18. PUMARTH PROPERTIES & HOLDING PVT. LTD SA NO.656/IND/2018 3 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,ITAT, INDORE .