Income Tax Appellate Tribunal - Hyderabad
Albany Molecular Research Hyderabad ... vs Dcit, Circle-1(1),, Hyderabad on 24 February, 2020
IN THE INCOME TAX APPELLATE TRIBUNAL
HYDERABAD BENCHES "B" : HYDERABAD
BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER
AND SHRI A. MOHAN ALANKAMONY,
ACCOUNTANT MEMBER
S. S.A. No. A.Y. Applicant Respondent
No.
51 & 2012-13 Albany Molecular Dy.
1 52/Hyd & Research Commissioner
& /2020 2014-15 Hyderabad of Income-tax,
2 (in ITA No. Research Centre Circle - 1(1),
IT-TP Hyderabad.
Pvt. Ltd.,
107/H/2017
Hyderabad.
& IT-
TP/H/2020)
PAN -
AAFCA1469D
For Applicant : Shri Sashank Dundu
For Revenue : Shri Y.V.S.T. Sai
Date of Hearing : 24.02.2020
Date of Pronouncement : 24.02.2020
ORDER
SHRI A. MOHAN ALANKAMONY, A.M.:
These Stay Applications are filed by the assessee seeking stay of outstanding demand of tax Rs. 4,90,98,2010 for AY 2012-12 and Rs. 1,69,61,420/- for AY 2014-15.
2. The ld. Counsel for the assessee submitted that the stay of the recovery of the outstanding demand s for both the years under consideration may be granted till the disposal of the corresponding appeals of the assessee as the assessee has a strong case on merit and the assessee has claimed the 2 S.A.Nos. 51 & 52/Hyd/2020 Albany Molecular Research Hyderabad Research Centrel pvt. Ltd., Hyd following refunds in the returns of income filed for the subsequent years as under:
2017-18 Rs. 3,04,01,080
2018-19 Rs. 2,62,00,250
Total Rs. 5,66,01,330
=============
3. On the other hand, ld. DR objected to stay of the outstanding demands.
4. Considered the rival submissions and perused the material on record. On considering the totality of the facts and circumstances of the case & the issue in the appeals being debatable, we are inclined to stay of recovery of demand for a period of 180 days for both the years under consideration from the date of this order or till the disposal of the corresponding appeals, whichever is less, as the balance of convenience is in favour of the assessee to grant say of the outstanding demands for the years under consideration.
5. In the result, SA filed by the assessee are allowed.
Order pronounced in the open Court on 24 th February, 2020.
Sd/- Sd/- ( P. MADHAVI DEVI) (A. MOHAN ALANKAMONY) JUDICIAL MEMBER ACCOUNTANT MEMBER
Hyderabad, Dated 24 th February, 2019.
kv 3 S.A.Nos. 51 & 52/Hyd/2020 Albany Molecular Research Hyderabad Research Centrel pvt. Ltd., Hyd Copy to
1. Albany Molecular Research Hyderabad Research Centre Pvt. Ltd., Plot No. 9, Survey No. 230 -243, Phase - 1, Shapoorji Biotech Park Pvt. Ltd., Genome Valley, Turkapally, Shameerpet, Hyderabad - 500 078.
2. DCIT, Circle - 1(1), Hyderabad.
3. DRP - 1, Bengaluru
4. The DR, ITAT, Hyderabad
5. Guard File