Appeal details
Counselvise Citation
[2019] 117 COUNSELVISE.COM (IT) 6217 (ITAT-BANGALORE)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
2 month(s) 4 day(s)
Appellant
Respondent
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
25-02-2019
Judgement Text
IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, BENGALURU BEFORE SHRI B.R.BASKARAN, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER SP NO.79/BANG/2019 (IN IT(TP)A NO.3189/BANG/2018) (ASSESSMENT YEAR: 2014-15) KBACE TECHNOLOGIES PVT. LTD. 6 TH FLOOR, NEW NO.165, MENON ETERNITY BUILDING, ST. MARYS ROAD, ALWARPET, CHENNAI. VS. PETITIONER DEPUTY COMMISSIONER OF INCOME - TAX, CIRCLE 4(1)(1) BENGALURU. RESPONDENT PETITIONER BY : SHRI SANDEEP S. KARHAIL, ADVOCATE. RESPONDENT BY : DR.P.V.PRADEEP KUMAR, ADDL.CIT(DR) DATE OF HEARING : 01/03/2019 DATE OF PRONOUNCEMENT: 01/03/2019 O R D E R PER PAVAN KUMAR GADALE, JM : THE ASSESSEE HAS FILED THE STAY PETITION IN IT(TP)A NO. 3189/BANG/2018 TO STAY THE RECOVERY OF TAX OF RS.10,51,380/- TILL DISPOSAL OF THE APPEAL BY THE TRIBUNAL. THE LEARNED AR SUBMITTED THAT THE ASSESSEE IS IN THE BUSINESS OF PROVIDING SOFTWARE DEVELOPMENT SERVICES TO KBAC TECHNOLOGIES INC AND FILED THE RETURN OF INCOME ON 27/11/2014 DECLARING TOTAL INCOME OF RS.2,79,61,120/-. THE ASSESSING OFFICER, AFTER CONSIDERING THE TRANSFER PRICING ADJUSTMENT PASSED THE FINAL ITA NO./BANG/201 PAGE 2 OF 3 ASSESSMENT ORDER RAISING DEMAND OF RS.1,05,13,800/-. THE LEARNED ARS CONTENTION IS THAT THE ASSESSEE HAS A PRIMA FACIE GOODCASE AND BALANCE OF CONVENIENCE IS IN FAVOUR OF THE ASSESSEE. ON THE OTHER HAND, LEARNED DR OPPOSED THE STAY APPLICATION AND SUBMITTED THAT THAT NO BLANKET STAY BE GRANTED. 3. CONSIDERING THE FACTUAL ASPECTS AND ALSO THE SUBMISSIONS OF THE LEARNED AR, WE STAY THE RECOVERY OF TAX FOR A PERIOD OF 180 DAYS AND DIRECT THE ASSESSEE TO PAY RS.32 LAKHS ON OR BEFORE 20/3/2019 AND WE DIRECT THAT THE APPEAL TO BE POSTED FOR HEARING ON 17/06/2019. SINCE DATE HAS BEEN ANNOUNCED IN THE OPEN COURT, NO SEPARATE HEARING NOTICE BE ISSUED. WE ORDER ACCORDINGLY. 4. IN THE RESULT, THE STAY PETITION IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 1 ST MARCH, 2019. SD/- SD/- (B.R.BASKARAN) (PAVAN KUMAR GADALE) ACCOUNTANT MEMBER JUDICIAL MEMBER PLACE : BENGALURU D A T E : 01/03/2019. SRINIVASULU, SPS ITA NO./BANG/201 PAGE 3 OF 3 COPY TO : 1 APPELLANT 2 RESPONDENT 3 CIT(A)- 4 CIT 5 DR, ITAT, BANGALORE. 6 GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME-TAX APPELLATE TRIBUNAL BANGALORE
