Income Tax Appellate Tribunal - Delhi
Granite Services International India ... vs Dcit, New Delhi on 17 February, 2017
IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH: 'FRIDAY 'G' ' NEW DELHI
BEFORE SHRI R. S. SYAL, AM & SHRI KULDIP SINGH, JM
S.A. Nos.89 & 90/Del/2017
(In I.T.A Nos.532/Del/2016 &740/Del/2017)
Assessment Years : 2011-12 & 2012-13
Granite Services International Pvt. Ltd., Vs ACIT,
Building No.7A, 5th Floor, Tower-A, Circle-10(2),
DLF Cyber City, Phase-III, New Delhi
Sector-25A,
Gurgaon.
PAN: AACCG3374Q
(Applicant) (Respondent)
Assessee by: Shri K.M. Gupta, Advocate
Revenue by: Shri U.K. Dubbey, Sr. DR
Date of Hearing 17.02.2017
Date of Pronouncement 17.02.2017
ORDER
PER R. S. SYAL, AM:
By means of the present stay applications, the assessee requires the Tribunal to stay demand of Rs.6,37,50,100/- for the A.Y. 2011-12 and Rs.4,24,74,809/- for the A.Y. 2012-13, 2 SA Nos.89 & 90/Del/2017 inclusive of interest till the disposal of the captioned appeals by the Tribunal.
2. The ld. AR submitted that the assessee has already paid a sum of Rs.2,57,41,300/-. It was also submitted that the Department has made an illegal recovery by securing a demand draft amounting to Rs.4,35,03,000/- from the bank, which has not been encashed so far and the same cannot be encashed because of the practice adopted by the Department. In this way, it was submitted that the Department has excess recovered a sum of Rs.54.94 lac against the demand for the AY 2011-12. It was prayed that the illegal recovery made by the Department may be adjusted against the demand for the AY 2012-13. The ld. AR argued that the assessee has a prima facie good case before the tribunal. On the other hand, the ld. DR opposed the stay applications.
3 SA Nos.89 & 90/Del/2017
3. Having heard both the sides and perused the relevant material on record, we find that the total demand for both the years amounts to Rs.10.61 crore. A sum of Rs. 2,57,41,300/- has already been paid by the assessee. In so far as the demand draft amounting to Rs.4.35 crore is concerned, the ld. AR has undertaken to deposit equal amount within two days from the return of the draft by the Department, which has otherwise not been encashed by the Department under its practice and procedure. If such payment of Rs.4.35 crore is also taken into consideration, the total amount of payment comes to Rs.6.87 crore, which is roughly more than 60% of the demand for both the years taken together. Under the given circumstances, we grant stay for both the years for a period of six months or till the disposal of captioned appeals, whichever is earlier, subject to the assessee paying Rs.4.35 crore within two days from the return of demand draft by the Department. The assessee is granted an early hearing in the matter for 17th April, 2017. Pursuant to the ld. AR agreeing to the above arrangement of payment, an announcement to this effect was made in the open 4 SA Nos.89 & 90/Del/2017 court on the conclusion of hearing. However, this accommodation is subject to furnishing of undertaking to the satisfaction of the Assessing Officer to the effect that assessee will not alienate or dispose of any of its immovable properties till the final disposal of the present appeals. The assessee shall also not be entitled to seek any adjournment without just cause. In case any of the terms and conditions is/are violated, the stay herein granted shall be vacated and appeals shall revert to its original positions to be fixed in routine manner. With these observations, and subject to the above terms and conditions, the stay applications of the assessee get disposed of accordingly.
4. In the result, the stay applications are allowed in above terms.
Order pronounced in the open Court at the time of hearing i.e. on 17.02.2017.
Sd/- Sd/-
(KULDIP SINGH) (R. S. SYAL)
JUDICIAL MEMBER ACCOUNTANT MEMBER
Dated: 17.02.2017
5 SA Nos.89 & 90/Del/2017
dk
Copy forwarded to:
1. Appellant
2. Respondent
3. CIT
4. CIT(Appeals)
5. DR: ITAT
ASSISTANT REGISTRAR