Income Tax Appellate Tribunal - Hyderabad
Biogenex Life Sciences Private ... vs Dcit, Circle-1(2), Hyderabad, ... on 1 October, 2018
IN THE INCOME TAX APPELLATE TRIBUNAL
HYDERABAD BENCHES "B" : HYDERABAD
BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER
AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER
S. S.A. No. A.Y. Applicant Respondent
No.
166, 167 & 2010-11, M/s Biogenex Life Dy.
1 168/H/2018 2011-12 Sciences Pvt. Commissioner
& 2012-13
to (in ITA Nos. Ltd. of Income-tax,
3 229/H/15 and Circle - 1(3),
519 & PAN - AACCB6041P Hyd.
696/H/17)
For Assessee : Shri P. Murali Mohan Rao
For Revenue : Shri R. Mohan Reddy
Date of Hearing : 28.09.2018
Date of Pronouncement : 01.10.2018
ORDER
SHRI S. RIFAUR RAHMAN, A.M.:
These Stay Applications are filed by the assessee seeking extension of stay granted by this Tribunal in SA Nos. 35, 36 & 37/H/2018 vide its order dated 23/02/2018 wherein the coordinate bench has granted stay by observing as under:
"4. We have carefully considered the rival subm issions and perused the record. Since the Principal Commissioner, vide order dated 04.12.2017 granted stay of collection of outstanding demand subject to payment of Rs. 5 lakhs per month, on the same lines we called upon the assessee to pay a sum of Rs. 5 lakhs per month per case i.e., 15 lakhs per month but the Learned Counsel for the assessee submits that by the end of this month, he is not in a position to make any payment and he would be willing to pay by the end of next month upon discussing the issue with the Learned Departmental Representative, we direct the assessee to pay a sum of Rs. 30 lakhs by 25th March, 2 S.A.Nos. 166 to 168/Hyd/2018 M/s Biogenex Life Sciences Pvt. Ltd.
2018 and subject to payment of the same, the Assessing Officer is directed to grant stay of collection of outstanding demand. The Registry is a lso directed to prepone the date of hearing to 05th April, 2018. Needless to observe that in the event of seeking adjournment by the assessee, on the date fixed for hearing, without reasonable cause, the stay granted herein shall stand automatically vacate d."
2. Since the issue in dispute is still pending for adjudication by the ITAT, the ld. AR of the assessee filed the present stay application requesting us to extend the stay granted for the recovery of the outstanding demand in the AY under consideration till the disposal of the appeals as the assessee is unable to make any further payment of taxes due to financial crunch, however, paid Rs. 15,00,000/- towards outstanding demand. He further requested us to instruct the department not to take any coercive steps towards recovery of taxes till the disposal of the appeals.
3. Having heard both the parties and perused the material on record and taking note of the fact that the issue is still pending before the Tribunal and since non -disposal of the appeal is not due to any reason attributable to the assessee, we are inclined to grant stay of the recovery of the outstanding demand in the AY under consideration till 31st December, 2018 or till the disposal of the corresponding appeals by the Bench, whichever is earlier. We direct the department not take any coercive steps to recovery of the outstanding demand till the disposal of the appeals.
3S.A.Nos. 166 to 168/Hyd/2018 M/s Biogenex Life Sciences Pvt. Ltd.
4. In the result, SAs filed by the assessee are allowed.
Order pronounced in the open Court on _1 st October, 2018.
Sd/- Sd/-
( P. MADHAVI DEVI) (S. RIFAUR RAHMAN)
JUDICIAL MEMBER ACOUNTANT MEMBER
Hyderabad, Dated 1st October, 2018.
kv Copy to
1. M/s Biogenex Life Sciences Pvt. Ltd., C/o P. Murali & Co., CAs, 6-3-655/2/3, 1st Floor, Somajiguda, Hyderabad - 82
2. DCIT, Circle - 1(3), Hyderabad
3. DRP, Hyderabad
4. CIT - International Taxation, Income-tax Towers, 10-2-3, AC Guards, Hyderabad - 500 004
5. The DR, ITAT, Hyderabad
6. Guard File