Income Tax Appellate Tribunal - Mumbai
Merck Specialities Pvt. Ltd.,, Mumbai vs The Asst. Commissioner Of Income-Tax ... on 6 September, 2019
1 SA No.278/Mum/2019 Merck Specialities Private Limited Assessment Year-2014-15 आयकर अपीलीय अिधकरण "डी" ायपीठ मुंबई म । IN THE INCOME TAX APPELLATE TRIBUNAL "D" BENCH, MUMBAI ी श जीत दे , ाियक सद एवं ी मनोज कुमारअ वाल, लेखा सद के सम ।
BEFORE SHRI SAKTIJIT DEY, JM AND SHRI MANOJ KUMAR AGGARWAL, AM Stay Application No.278/Mum/2019 [Arising Out of I.T.A. No.7087/Mum/2018] ( नधा रणवष / Assessment Year: 2014-15) Merck Specialities Private Limited ACIT-Circle 7(2)(1) Godrej One, 8th Floor Mumbai.
बनाम/ Pirojshanagar, Eastern Express Highway Vs. Vikhroli (East), Mumbai-400 079. थायीले खासं . /जीआइआरसं . /PAN/GIR No. AAECM -2634-B (अपीलाथ /Appellant) : ( यथ / Respondent) अपीलाथ क ओरसे/ Appellant by : Ms. Aarti Vissanji- Ld.AR यथ क ओरसे/Respondent by : Chaudhry Arun Kumar Singh-Ld. DR सनु वाईक तार ख/ : 06/09/2019 Date of Hearing घोषणाक तार ख / : 06/09/2019 Date of Pronouncement आदे श / O R D E R Manoj Kumar Aggarwal (Accountant Member): -
1. By way of this Stay Application for Assessment Year [AY] 2014-15, the assessee seeks stay of outstanding demand of Rs.947.85 Lacs which 2 SA No.278/Mum/2019 Merck Specialities Private Limited Assessment Year-2014-15 includes interest of Rs.364.94 Lacs. During hearing it transpires that the assessee's efforts to seek stay of demand before lower authorities have remained futile.
2. Making out a case for stay of demand, Ld. AR submitted that the demand primarily arises out of disallowances in respect of technical fees, depreciation on intangible asset / goodwill and sales promotion expenses. It has been pleaded that one of the issues stood covered by various decision of the Tribunal whereas one of the issues is stated to be covered by the earlier order of the Tribunal in assessee's own case. In the above background, Ld. AR sought stay of demand and submitted that the assessee is ready to pay reasonable amount of demand for the said purpose. The Ld. DR opposed the stay of demand.
3. Upon hearing rival submissions and considering the submissions made by Ld. AR, the bench formed an opinion that the assessee deserve stay of demand upon payment of Rs.1 crore payable in the following manner: -
i) On or before 30/09/2019- Rs.0.5 crores
ii) On or before 31/10/2019- Rs.0.5 crores The proof of payment shall be submitted by the assessee before the registry in due course of time. The outstanding demand is stayed for a period of 180 days or till the disposal of this appeal, whichever is earlier.
Needless to add that failure to make any of the aforesaid payments by prescribed dates shall result into automatic vacation of this stay. Since no 3 SA No.278/Mum/2019 Merck Specialities Private Limited Assessment Year-2014-15 date of hearing of the quantum appeal has been fixed by the registry, this appeal may be tagged with assessee's appeal for earlier years which is stated to be coming up for hearing before 'J' Bench on 17/09/2019. Since the hearing date has already been pronounced, separate notice, in this regard, is dispensed with. The assessee shall make endeavor for early disposal of the appeal and shall not seek unnecessary adjournments without reasonable / just cause.
4. The stay application stands allowed in terms of our above order.
Order pronounced in the open court on 06th September, 2019.
Sd/- Sd/-
(Saktijit Dey) (Manoj Kumar Aggarwal)
ाियक सद / Judicial Member लेखा सद / Accountant Member
मुंबई Mumbai; िदनां कDated : 06/09/2019 Sr.PS:-Jaisy Varghese आदे श की ितिलिप अ े ि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. गाड, फाईल / Guard File आदे शानुसार/ BY ORDER, उप/सहायकपंजीकार (Dy./Asstt.Registrar) आयकरअपीलीयअिधकरण, मुंबई / ITAT, Mumbai.