Income Tax Appellate Tribunal - Chennai
The Villupuram District Central ... vs Dcit, Villupuram Circle,, Villupuram on 27 August, 2021
आयकर अपीलीय अिधकरण, 'सी' ायपीठ, चे ई
IN THE INCOME-TAX APPELLATE TRIBUNAL 'C' BENCH, CHENNAI
ी वी. दु गा राव, ाियक सद एवं ी जी. मऺजुनाथा, ले खा सद के सम ।
Before Shri V. Durga Rao, Judicial Member &
Shri G. Manjunatha, Accountant Member
S.P. Nos. 19, 20, 21, 22 and 23/Chny/2021
[In I.T.A. Nos.854, 855, 856, 857 & 858/Chny/2021
Assessment Years: 2010-11, 2011-12, 2012-13, 2008-09 & 2009-10
The Villupuram District Central The Deputy Commissioner of
Co-operative Bank Ltd., Vs. Income Tax Villupuram Circle,
No. 2, Hospital Road, Villupuram.
Villupuram 605 602.
[PAN: AAAJV0332Q]
(अपीलाथ /Appellant) ( थ /Respondent)
अपीलाथ की ओर से / Appellant by :
Shri Anandh Srinivasan, C.A. for
Shri K. Ravi, Advocate
थ की ओर से /Respondent by : Ms. R. Anita, Addl. CIT
सुनवाई की तारीख/ Date of hearing : 27.08.2021
घोषणा की तारीख /Date of Pronouncement : 27.08.2021
आदेश /O R D E R
PER V. DURGA RAO, JUDICIAL MEMBER:
These are five stay petitions filed by the petitioner seeking grant of stay of outstanding demand of ₹.4,70,88,771/- for the assessment year 2010-11, ₹.2,70,99,183/- for the assessment year 2011-12, ₹.4,68,80,350/- for the assessment year 2012-13, ₹. NIL for the assessment year 2008-09 and ₹.3,04,22,518/- for the assessment year 2009-10 till the final disposal of the appeals preferred before the Tribunal relevant to the assessment years referred hereinabove.
2 S.P. Nos.19- 23/Chny/2021
2. The ld. Counsel for the petitioner has submitted that against the total demand raised by the Department, the assessee has already paid 45% for the assessment year 2009-10, 54% for the assessment year 2010-11, 60% for the assessment year 2011-12 and 54% for the assessment year 2012-13 after giving effect to the appellate orders. So far as assessment year 2008- 09 is concerned, it was the submission that though demand was not raised, but the revision of carry forward loss will impact the tax liability of subsequent assessment years and thereby sought for grant of stay of operation of the appellate order. It was further submission that once the assessment is reopened, notice under section 143(2) of the Act has to be given to the assessee. However, no such notice has been given to the assessee. It was the submission that the ld. CIT(A) has enhanced the addition under section 251(2) of the Act without valid reason. Since the main appeals are posted for hearing on 02.09.2021, the ld. Counsel prayed for grant of stay of recovery of balance outstanding demand till the final disposal of the appeals.
3. On the other hand, the ld. DR has not seriously object of the submissions of the ld. Counsel.
4. We have heard both the sides through video conferencing and perused the records. Since the appeals are fixed for hearing on 02.09.2021, the ld. Counsel for the assessee has prayed for grant of stay of recovery of 3 S.P. Nos.19- 23/Chny/2021 balance outstanding demand till the final disposal of the appeals. Moreover, the petitioner has already paid 45% for the assessment year 2009-10, 54% for the assessment year 2010-11, 60% for the assessment year 2011-12 and 54% for the assessment year 2012-13. In view of the above fact and circumstances of the case, we find that, prima facie, it is a fit case to grant stay. Accordingly, the stay is granted for a period of six months from the date of pronouncement of this order or till the final disposal of the appeals, whichever is earlier.
5. Further, we direct that the assessee should not seek adjournment other than for just cause. If the assessee is found violated the above condition, the stay granted hereinabove shall be vacated automatically.
6. In the result, all the stay petitions filed by the assessee are allowed.
Order pronounced on the 27th August, 2021 at Chennai.
Sd/- Sd/- (G. MANJUNATHA) (V. DURGA RAO) ACCOUNTANT MEMBER JUDICIAL MEMBER Chennai, Dated, the 27.08.2021 Vm/-
आदेश क ितिलिप अ ेिषत/Copy to: 1. अपीलाथ /Appellant, 2. यथ / Respondent, 3. आयकर आयु (अपील)/CIT(A), 4. आयकर आयु /CIT, 5. िवभागीय ितिनिध/DR & 6. गाड फाईल/GF.