Income Tax Appellate Tribunal - Delhi
Pmg Integrated Communicatio0Ns P.Ltd, ... vs Acit, Circle-19(1), New Delhi on 15 February, 2019
1 S.A No. 61/Del/2019
IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH: 'FRIDAY 'F' NEW DELHI
BEFORE SHRI R. K. PANDA, ACCOUNTANT MEMBER
AND
MS SUCHITRA KAMBLE, JUDICIAL MEMBER
S.A No. 61/Del/2019
In
I.T.A. No. 8157/DEL/2018 (A.Y 2015-16)
PMG Integrated Communications P. Vs ACIT
Ltd. Central Circle-19(1)
576, Main Road, Chirag Delhi C.R. Building
New Delhi New Delhi
AAECP3851B
(APPLICANT) (RESPONDENT)
Applicant by Sh. Anuj Garg, CA
Respondent by Sh. Surender Pal, Sr. DR
Date of Hearing 15.02.2019
Date of Pronouncement 15.02.2019
ORDER
PER SUCHITRA KAMBLE, JM
This Stay Application is filed in respect of total outstanding demand of Rs. 7,69,540/-
2. The Ld. AR submitted that the Assessing Officer rejected the stay application of the assessee vide letter dated 14.05.2018. The Ld. AR submitted that the assessee company is engaged in the business of providing advertisement and event management service. The main source of the income of the assessee company is event management services provided to their clients. The assessee company filed its return of income on 06.11.2015 declaring the income of Rs. 8,30,13,070/-. The assessment was completed at the total income of Rs. 8,50,38,973/- thereby making addition of Rs. 20,25,903/- on account of expenditure incurred as royalty paid for using brand 2 S.A No. 61/Del/2019 name of PMG payable to its holding company in Singapore. Accordingly tax liability of Rs. 7,69,540/- has been raised by the Assessing Officer upon the assessee company. The Ld. AR submitted that various decisions of the Hon'ble Jurisdictional High Court have decided this issue in favour of the assessee. Thus, the Ld. AR submitted that the assessee has a prime facie case for granting stay. Thus, the Ld. AR submitted that Stay of the outstanding demand may be granted.
3. The Ld. DR opposed the Stay Application vehemently.
4. We have heard both the parties and perused the material available on record. Prima facie, the Ld. AR made out a case for granting stay. Therefore, we are granting Stay for six months or till the disposal of the appeals whichever is earlier with the direction that the assessee will pay Rs. 2 lacs on or before 28/02/2019. If the assessee failed to comply with this direction the stay will get automatically vacated. The Ld. AR also made out a good case for early hearing. Therefore, we are directing the registry to place the appeal for hearing on 27/03/2019. Registry is directed accordingly. Dasti.
5. In result, Stay Application is allowed.
Order pronounced in the Open Court on 15th FEBRUARY, 2019.
Sd/- Sd/-
(R. K. PANDA) (SUCHITRA KAMBLE)
ACCOUNTANT MEMBER JUDICIAL MEMBER
Dated: 15/02/2019
R. Naheed *
Copy forwarded to:
1. Appellant
2. Respondent
3. CIT
4. CIT(Appeals)
5. DR: ITAT
3 S.A No. 61/Del/2019
ASSISTANT REGISTRAR
ITAT NEW DELHI
Date of dictation 15.02.2019
Date on which the typed draft is placed before the 15.02.2019 dictating Member Date on which the typed draft is placed before the Other Member Date on which the approved draft comes to the Sr. PS/PS Date on which the fair order is placed before the Dictating Member for pronouncement Date on which the fair order comes back to the Sr. 15.02.2019 PS/PS Date on which the final order is uploaded on the 15.02.2019 website of ITAT Date on which the file goes to the Bench Clerk 15.02.2019 Date on which the file goes to the Head Clerk 4 S.A No. 61/Del/2019