TANISHKA NAGARI SAHAKARI PATSANSTHA MARYADIT,PUNE V. INCOME TAX OFFICER WARD 9(3), PUNE

SA 2/PUN/2026

AI Insights

The case involves Tanishka Nagari Sahakari Patsanstha Maryadit, a cooperative society, which filed a Stay Application against the Income Tax Department's demand of Rs.5,04,03,648 for the assessment year 2019-20. The demand arose from cash deposits made by the assessee in their bank account, leading to a reopened assessment that determined the total income of the assessee at Rs.2,96,10,121. The assessee argued that their financial condition was poor and requested a full stay on the demand and an out of turn hearing. The Department opposed the stay, suggesting at least a 20% payment of the demand. The Tribunal, after considering the arguments and the lack of financial details from the assessee, decided not to grant an absolute stay but scheduled an expedited hearing for the appeal.

• Counselvise Citation: [2026] 140 COUNSELVISE.COM (IT) 836097 (ITAT-PUNE)
• Duration Of Justice: 22 day(s)
• Appeal Type: Stay Application
• Pronouncement Date: 13-02-2026
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2019-2020
• Appeal Filed On: 22-01-2026
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: PRAMOD SHAHAKAR
• Assessee Lawyers: MAHAVIR JAIN
• Keywords: Application of stay
• Section: 2

Judgement Text

"IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI R. K. PANDA, VICE PRESIDENT AND Ms. ASTHA CHANDRA, JUDICIAL MEMBER SA No.2/PUN/2026 Arising out of ITA No.103/PUN/2026 Assessment year : 2019-20 Tanishka Nagari Sahakari Patsanstha Maryadit Shop No.2, Profit Plaza, Limba Phata, Talegaon Dabhade, Tal. Maval, Dist. Pune – 410506 Vs. ITO, Ward-9(3), Pune PAN:AAFAT0878B (Applicant) (Respondent) Assessee by : Shri Mahavir Jain Department by : Shri Pramod Shahakar, JCIT Date of hearing : 13-02-2026 Date of pronouncement : 13-02-2026 O R D E R PER R. K. PANDA, VP : The assessee through this Stay Application requests the Tribunal to stay on the realization of the outstanding demand of Rs.5,04,03,648/-. 2. The Ld. Counsel for the assessee while explaining the Stay Application submitted that the assessee is a cooperative society and has not filed its return of income. The Assessing Officer reopened the assessment on account of cash deposits made by the assessee in the bank account and completed the assessment determining the total income of the assessee at Rs.2,96,10,121/- which has been Printed from counselvise.com 2 SA No.2/PUN/2026 upheld by the Ld. CIT(A) / NFAC in his ex-parte order. He submitted that the bank accounts of the assessee have been attached by the Income Tax Department. He submitted that the financial condition of the assessee is very bad and therefore full stay for realization of the outstanding demand should be granted to the assessee. He also requested for an out of turn hearing of the appeal. 3. The Ld. DR on the other hand opposed the Stay Application and submitted that the assessee should be directed to pay atleast 20% of the total outstanding demand. 4. We have heard the rival arguments made by both the sides and perused the record. In absence of submission of financial details by the assessee, we are unable to know the financial condition and therefore it is not a fit case for grant of absolute stay. Accordingly, the Stay Application filed by the assessee is rejected. However, the request of the Ld. Counsel for the assessee for an out of turn hearing is accepted and the appeal is fixed for hearing on 18.02.2026 which was announced in the open Court. It was also announced that no separate notice of hearing shall be sent and this order itself shall be deemed to be the service of notice to both the sides to which both the parties agreed. 5. In the result, the Stay Application filed by the assessee is dismissed in the above terms. Printed from counselvise.com 3 SA No.2/PUN/2026 Order pronounced in the open Court at the conclusion of hearing itself i.e. on 13th February, 2026. Sd/- Sd/- (ASTHA CHANDRA) (R. K. PANDA) JUDICIAL MEMBER VICE PRESIDENT पुणे Pune; दिन ांक Dated : 13th February, 2026 GCVSR आदेश की प्रतितिति अग्रेतिि/Copy of the Order is forwarded to: 1. अपील र्थी / The Appellant; 2. प्रत्यर्थी / The Respondent 3. 4. The concerned Pr.CIT, Pune DR, ITAT, ‘B’ Bench, Pune 5. ग र्ड फ ईल / Guard file. आदेशानुसार/ BY ORDER, // True Copy // Assistant Registrar आयकर अपीलीय अदिकरण ,पुणे / ITAT, Pune S.No. Details Date Initials Designation 1 Draft dictated on 13.02.2026 Sr. PS/PS 2 Draft placed before author 13.02.2026 Sr. PS/PS 3 Draft proposed & placed before the Second Member JM/AM 4 Draft discussed/approved by Second Member AM/AM 5 Approved Draft comes to the Sr. PS/PS Sr. PS/PS 6 Kept for pronouncement on Sr. PS/PS 7 Date of uploading of Order Sr. PS/PS 8 File sent to Bench Clerk Sr. PS/PS 9 Date on which the file goes to the Office Superintendent 10 Date on which file goes to the A.R. 11 Date of Dispatch of order Printed from counselvise.com "