Income Tax Appellate Tribunal - Mumbai
Navbharat Global Services P. Ltd, ... vs Dcit 10(1), Mumbai on 15 February, 2019
SA No. 66/Mum/2019 Arising out of ITA No.137/Mum/2015 Navbharat Global Services Pvt.Ltd.
Assessment Year-2010-11 आयकर अपीलीय अिधकरण "एच" यायपीठ मुंबई म । IN THE INCOME TAX APPELLATE TRIBUNAL "H" BENCH, MUMBAI माननीय ी मनोज कुमार अ वाल, लेखा सद एवं माननीय ी रवीश सूद , ाियक सद के सम ।
BEFORE HON'BLE SHRI MANOJ KUMAR AGGARWAL, AM AND HON'BLE SHRI RAVISH SOOD, JM Stay Application No. 66/Mum/2019 [Arising Out of I.T.A. No. 137/Mum/2015] िनधा रण वष / Assessment Year: 2010-11) (िनधा Navbharat Global Services Pvt. Ltd. Assistant Commissioner of 421/G, First Main बनाम नाम/ नाम Income Tax -5(1)(1) 3rd Cross, First Stage, Indiranagar Vs. Bangalore Bangalore - 560 038 थायी ले खा सं . /जीआइआर सं . /PAN/GIR No. AACCK-9182-C (अपीलाथ /Appellant) : (ू यथ / Respondent) अपीलाथ क ओर से / Appellant by : Hiro Rai, Ld. AR ू यथ क ओर से/Respondent by : Satish Chandra Rajore, Ld. Sr.DR सुनवाई क तार#ख / : 15/02/2019 Date of Hearing घोषणा क तार#ख / : 15/02/2019 Date of Pronouncement आदे श / O R D E R Per Manoj Kumar Aggarwal (Accountant Member):-
1. By way of this Stay Application, the assessee seeks stay of outstanding demand of Rs. 137.88 Lacs for Assessment Year [AY] 2010- 2 SA No. 66/Mum/2019
Arising out of ITA No.137/Mum/2015 Navbharat Global Services Pvt.Ltd.
Assessment Year-2010-11
11. In the quantum appeal, the assessee has primarily challenged adjustment of disallowance u/s 14A while computing book profits u/s 115JB.
2. The Ld. Authorized Representative for assessee [AR], while pleading for stay of recovery of balance demand, drew our attention to the fact that the assessee stood fair chance in the quantum appeal keeping in view the nature of adjustment made by Ld. AO. The Ld. DR opposed the stay and submitted that the assessee may be required to deposit at least 30% of the outstanding demand.
3. Heard and perused the material on record. Considering the rival submissions, the Bench formed an opinion that stay could be granted to the assessee on payment of Rs.10 Lacs which shall be deposited by the assessee on or before 22/02/2019. The proof of payment shall be deposited forthwith before the registry. Keeping in view the issues involved, the date of hearing of quantum appeal has been fixed as 25/02/2019, which has been intimated to both the parties and therefore, separate notice in this regard is dispensed with. The stay is granted for a period of three months from the date of this order or till the disposal of quantum appeal, whichever is earlier. The assessee is directed not to seek unnecessary adjournments in the matter and shall make an endeavor for early disposal of the appeal.
4. The stay application stands allowed in terms of our above order.
Order pronounced in the open court on 15th February, 2019 Sd/- Sd/-
(Ravish Sood) (Manoj Kumar Aggarwal) ाियक सद / Judicial Member लेखा सद / Accountant Member 3 SA No. 66/Mum/2019 Arising out of ITA No.137/Mum/2015 Navbharat Global Services Pvt.Ltd.
Assessment Year-2010-11 मुंबई Mumbai; िदनांकDated : 15/02/2019 Sr.PS:-Thirumalesh आदे शकी ितिलिपअ ेिषत/Copy of the Order forwarded to :
1. अपीलाथ'/ The Appellant
2. ()थ'/ The Respondent
3. आयकरआयु*(अपील) / The CIT(A)
4. आयकरआयु*/ CIT- concerned
5. िवभागीय(ितिनिध, आयकरअपीलीयअिधकरण, मुंबई/ DR, ITAT, Mumbai
6. गाड1 फाईल / Guard File आदे शानुसार/ BY ORDER, उप/सहायकपंजीकार (Dy./Asstt.Registrar) आयकरअपीलीयअिधकरण, मुंबई / ITAT, Mumbai