Income Tax Appellate Tribunal - Mumbai
Temasek Holdings Advisors India P.Ltd, vs Dcit 14(3)(1), on 16 May, 2017
IN THE INCOME TAX APPELLATE TRIBUNAL "K" BENCH, MUMBAI
BEFORE SHRI G.S PANNU, AM AND SHRI RAVISH SOOD, JM
S.A No. 281/Mum/2017
(Arising out of ITA No. 477/Mum/2016).
(निर्धारण वर्ा / Assessment Year:2011-12
TEMASEK HOLDINGS ADVISORS DY. C.I.T - 14(3)(1),
INDIA PRIVATE LIMITED; Mumbai.
12, 3 NORTH AVENUE, MAKER MAXITY, बिधम/
BANDRA KURLA COMPLEX, Vs.
BANDRA (E);
MUMBAI-400051.
स्थायी ले खा सं . /जीआइआर सं . /PAN No. AACCM4000H
(अपीलार्थी /Applicant) (प्रत्यर्थी / Respondent)
:
अपीलार्थी की ओर से / Applicant by : S/shri. Porus Kaka & Divesh Chawla
प्रत्यर्थी की ओर से /Respondent by : Shri. Saurabh Deshpande, D.R
सुनवाई की तारीख /
: 16.05.2017
Date of Hearing
घोषणा की तारीख /
: 16.05.2017
Date of Pronouncement
आदे श / O R D E R
PER RAVISH SOOD, JUDICIAL MEMBER:
1. The assessee applicant had filed the present stay application on 26.04.2017 seeking extension of the stay of the outstanding demand of Rs. 4,70,99,646/-, which was earlier granted by the Tribunal vide its order dated. 03.03.2017, and had expired as on 30.04.2017.
2
S.A No.92/Mum/2017 (A.Y. 2011-12) Temaesk Holdings Advisors India Private Limited.
2. We find that the assessee applicant had duly satisfied the conditions earlier laid down at the time of grant of stay of demand, and in compliance to the directions of the Tribunal had already deposited an amount of 10 percent of the outstanding demand, i.e Rs. 52,33,294/-. We are of the considered view that as the appeal which was fixed for hearing today, i.e 16.05.2017, had been heard, therefore taking a considerate view the stay of demand granted to the assessee is hereby extended till 31.07.2017 or the disposal of the appeal by the Tribunal, whichever is earlier.
3. In the result, the application filed by the assessee seeking extension of the stay of demand of Rs. 4,70,99,646/- is allowed in terms of our aforesaid observations.
Order pronounced in the open court on 16/05/2017 Sd/- Sd/-
(G.S Pannu) (Ravish Sood) ले खा सदस्य / Accountant Member न्यायिक सदस्य / Judicial Member
मुुंबई Mumbai; यदनाुं क Dated : 16.05.2017 आदे श की प्रनिनिनि अग्रे नर्ि/Copy of the Order forwarded to :
1. अपीलार्थी / The Applicant
2. प्रत्यर्थी / The Respondent 3 S.A No.92/Mum/2017 (A.Y. 2011-12) Temaesk Holdings Advisors India Private Limited.
3. आिकर आिुक्त(अपील) / The CIT(A)
4. आिकर आिुक्त / CIT - concerned
5. यवभागीि प्रयतयनयि, आिकर अपीलीि अयिकरण, मुुंबई / DR, ITAT, Mumbai
6. गार्ड फाईल /Guard File आदे शधिुसधर/ BY ORDER, उि/सहधयक िंजीकधर (Dy./Asstt.
Registrar) आयकर अिीिीय अनर्करण, मुुंबई / ITAT, Mumbai