M S Veena , Tumkur V. Assistant Commissioner of Income Tax Circle-1 , Tumkur

SA 93/BANG/2019

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 6229 (ITAT-BANGALORE)
• Duration Of Justice: 1 month(s) 26 day(s)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 01-05-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2015-2016
• Appeal Filed On: 05-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 6; 15; 20

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCH B BEFORE SHRI A.K. GARODIA, ACCOUNTANT MEMBER AND SHRI LALIET KUMAR, JUDICIAL MEMBER S.P. NO. & ITA NO. PETITIONER RESPONDENT 93/BANG/2019 (IN ITA NO.2845/BANG/2018) (A.Y. 20 1 5 - 1 6 ) M. S. VEENA, 4 TH CROSS, ASHOKA NAGAR, TUMKURU - 572103 PAN : A AHPV2127Q THE ACIT CIRCLE 1, TUMKURU. ASSESSEE BY :SHRI SANDEEP C., C. A. REVENUE BY : SMT. KABILA H. , J CIT DR DATE OF HEARING :29.03.2019. DATE OF PRONOUNCEMENT :29.03.2019. O R DE R PER SHRI A. K. GARODIA, A.M. : THE ASSESSEE HAS FILED THIS STAY PETITION SEEKING STAY OF DISPUTED OUTSTANDING DEMAND OF RS. 35,14,387/- INCLUDING INTEREST RS. 834,781/- FOR A. Y. 2015 16 . 2. IN COURSE OF HEARING OF THIS STAY PETITION, IT WAS SUBMITTED BY THE LEARNED AR OF THE ASSESSEE THAT THE ASSESSEE HAS ALREADY PAID RS. 878,600/- OUT OF TOTAL DISPUTED DEMAND OF RS. 43,92,983/- AND THE ASSESSEE HAS A GOOD PRIMA FACIE CASE. HE ALSO SUBMITTED THAT THE ASSESSEE IS READY TO PAY FURTHER RS. 10 LACS BY 10 TH APRIL 2019. HE SUBMITTED THAT SUBJECT TO THIS CONDITION, STAY SHOULD BE GRANTED. LEARNED DR OF THE REVENUE OPPOSED GRANTING OF STAY. SHE ALSO SUBMITTED THAT EVEN IF STAY IS GRANTED, THE ASSESSEE SHOULD PAY RS. 10 LACS WITHIN MARCH 2019. IN REPLY, IT WAS SUBMITTED BY THE LEARNED AR OF THE ASSESSEE THAT PAYMENT IS NOT POSSIBLE IN MARCH, 2019 BECAUSE THE BANK ACCOUNTS OF THE ASSESSEE ARE ATTACHED BY THE AO AND THERE IS NO FUND. HE SUBMITTED THAT THE AO SHOULD BE DIRECTED TO LIFT THE ATTACHMENT OF BANK ACCOUNTS AND THEREAFTER, THE ASSESSEE WILL BORROW MONEY TO PAY RS. 10 LACS AND HENCE, TIME SHOULD BE GIVEN UP TO 10 TH APRIL, 2019. 3. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND IN VIEW OF THE FACTS OF THE PRESENT CASE, WE FEEL IT PROPER TO GRANT STAY FOR THREE MONTHS FROM THE DATE OF THIS ORDER OR TILL DISPOSAL OF THE APPEAL WHICHEVER IS EARLIER SUBJECT TO THIS CONDITION THAT 2 S.P. NO.93/BANG/2019 (IN ITA NO. 2845/BANG/2018) THE ASSESSEE SHALL PAY RS. 10 LACS ON OR BEFORE 10 TH APRIL, 2019. WE ORDER ACCORDINGLY. THE AO IS DIRECTED TO LIFT THE ATTACHMENT OF THE BANK ACCOUNTS OF THE ASSESSEE IMMEDIATELY. THE HEARING OF THE APPEAL IS FIXED ON 20.06.2019 BUT BECAUSE OF GRANTING OF STAY, THE HEARING IS PREPONED TO 29.04.2019 AND SINCE THE DATE OF HEARING IS PRONOUNCED IN OPEN COURT, NO SEPARATE NOTICE OF HEARING IS REQUIRED TO BE ISSUED. WE MAKE IT CLEAR THAT THE ASSESSEE SHOULD NOT SEEK ADJOURNMENT IN COURSE OF HEARING OF THIS APPEAL WITHOUT JUSTIFIABLE REASONS AND IF THE ASSESSEE DOES SO, THE STAY GRANTED AS PER THIS ORDER SHALL STAND VACATED AUTOMATICALLY. 4. IN THE RESULT, THE STAY PETITION FILED BY THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON THE DATE OF HEARING ON CONCLUSION OF THE HEARING. SD/- SD/- (LALIET KUMAR) (A. K. GARODIA) JUDICIAL MEMBER ACCOUNTANT MEMBER BANGALORE, DATED: 29.03.2019. MS* COPY TO: 1. APPELLANT 4. CIT (A) 2. RESPONDENT 5. DR, ITAT, BANGALORE 3. CIT 6. GUARD FILE BY ORDER ASSTT. REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, BANGALORE.