Income Tax Appellate Tribunal - Mumbai
Unitech Marketing Services, Mumbai vs Assistant Commissioner Of Income Tax ... on 23 March, 2018
IN THE INCOME-TAX APPELLATE TRIBUNAL - "F" BENCH MUMBAI
BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER
AND SHRI PAWAN SINGH, JUDICIAL MEMBER
(S.A. No. 215/Mum/2018) in ITA No.822/Mum/2018-AY 2014-15)
M/s Unitech Marketing Services, ACIT, Circle - 17(3)
511, Raheja Plaza Co. Soc. Ltd., Mumbai.
Plot No. 15, Veera Desai Road,
Shah Industrial Estate, Vs.
Mumbai-53.
PAN: AAAFU7279F
Appellant Respondent
Appellant by : Shri Sanjay C. Shah (AR)
Respondent by :Ms. Pooja Swaroop (Sr DR)
Date of Hearing : 23 . 03.2018
Date of Pronouncement : 23.03.2018
ORDER
PER PAWAN SINGH, J.M.
1. This Stay Application (S.A) is filed by assessee for stay of outstanding demand of Rs. 48,15,420/- for Assessment Year (AY) 2014-15. The ld. AR of the assessee argued that the assessee has already filed appeal on 09.02.2018 vide ITA No. 822/Mum/2018 against the order of Ld CIT(A) dated 12.01.2017. The Registry has fixed the appeal for 23.04.2020.
2. It was argued that total tax demand for AY 2014-15 is Rs. 48,15,420/- including of interest. Out of which the assessee has already paid a sum of Rs. 11,72,959/-. The ld. AR of the assessee argued that the assessee has good case on merit and likely to succeed. The assessee would suffer loss in prejudice, if the demand of outstanding balance is not stayed. The addition was made on disallowance of partner's remuneration of Rs. 99,46,818/- under section 40(b) of the Act. The ld. AR of the assessee also prayed for fixing the appeal for hearing out of turn basis. On the other hand the ld DR for the revenue opposed the stay application and S.A. No.215/M/18- M/s Unitech Marketing Services argued that the assessee be directed to pay some more amount toward the remaining outstanding balance of due tax.
3. We have considered the rival submission of the parties. Considering the submission of assessee the recovery of outstanding tax demand is stayed subject to deposit of a sum of Rs. 25,00,000/- on or before 31.03.2018. We have seen that the assessee has file appal on 09.02.2018 and the appeal is now fixed for hearing on 23.04.2020.
4. Further, considering the prayer of assessee, the date of hearing of the appeal is fixed on 24.04.2018 on out of turn basis. The assessee shall not seek adjournment and will make endeavour for disposal of appeal as early as possible. The outstanding demand is stayed for a period of six month or till the disposal of appeal, whichever is earlier. In case, adjournment is sought without any valid reason, the stay shall vacate automatically. With these directions, the stay application of assessee is disposed off. The issuance of notice for hearing of main appeal is dispensed with as the date of hearing was announced in open court.
5. As a result, stay application filed by the assessee is stand disposed off accordingly.
Order pronounced in the open court on 23.03.2018.
Sd/- Sd/-
SHAMIM YAHYA PAWAN SINGH
ACCOUNTANT MEMBER JUDICIAL MEMBER
Mumbai, Date: 23.03.2018
SK
Copy of the Order forwarded to :
1. Assessee 2. Respondent
3. The concerned CIT(A) 4.The concerned CIT
5. DR "F" Bench, ITAT, Mumbai
6. Guard File
BY ORDER,
Dy./Asst. Registrar
ITAT, Mumbai
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