Income Tax Appellate Tribunal - Hyderabad
M/S A.P Endowment Archakas & Others ... vs Assessee on 7 June, 2013
IN THE INCOME TAX APPELLATE TRIBUNAL
HYDERABAD BENCH "B", HYDERABAD
BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER
AND SHRI SAKTIJIT DEY, JUDICIAL MEMBER
S.A. Nos. 31 & 32/Hyd/2013
( in ITA Nos. 1672 & 1673/Hyd/2013)
Assessment Years: 2004-05 & 2005-06)
M/s AP Endowments Archakas and Other
Employees Weflare Fund Trust ...Applicant
Hyderabad.
(PAN - AABTA6286F)
Vs.
Asst. Director of Income Tax(E) - I, ...Respondent
Hyderabad.
Applicant by : Shri P. Murali Mohan Rao
Respondent by : Shri Phani Raju
Date of Hearing : 07/06/2013
Date of Pronouncement : 07/06/2013
ORDER
PER SAKTIJIT DEY, J.M.:
By these stay applications the Assessee seeks to stay collection of outstanding demand as under:
For AY 2004-05 Rs. 76.54 lakhs
For AY 2005-06 Rs. 58.29 lakhs
Total Rs.134 .83 lakhs
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2. Out of the said outstanding demand of Rs. 134.83 lakhs, the assessee has paid an amount of Rs. 60.00 lakhs and has submitted the details of payment before us. The learned counsel for the assessee, therefore, submitted that 2 S.A No s.31 & 32/H/2013 M/s AP Endowments Archakas and others Employees Welfare Fund Trust , Hyd.
the stay may be granted for the balance outstanding demand of Rs. 74.83 lakhs.
3. We have heard the rival submissions and perused the materials on record. Considering the totality of the facts and circumstances of the case, we direct the assessee to pay a further sum of Rs. 10 lakhs by 30 th of June, 2013. On payment of such amount, recovery of the balance demand of Rs. 64.83 lakhs shall be stayed for a period of six months from the date of this order or till the disposal of appeal, whichever is earlier.
4. Since, the corresponding appeals of the assessee have been posted for hearing on 06/08/2013, if the parties want to file the paper books, if any, the same may be filed on or before 15 th July, 2013. If the assessee seeks any adjournment, the stay automatically gets vacated. We order accordingly.
5. In the result, the Stay Applications filed by the assessee are partly allowed.
Pronounced in the open court on 07/06/2013.
Sd/- Sd/-
(CHANDRA POOJARI) (SAKTIJIT DEY)
ACCOUNTANT MEMBER JUDICIAL MEMBER
Hyderabad, Dated: 07 th June, 2013.
Kv
3
S.A No s.31 & 32/H/2013
M/s AP Endowments Archakas and others Employees Welfare Fund Trust , Hyd.
Copy to:-
1) M/s A.P. Endowments Archakas and other Employees Welfare Fund Trust, C/o P. Murali & Co., CAs, 6-3-655/2/3, 1 st Floor, Somajiguda, Hyderabad - 82
2) DIT(E) - I, Hyderabad
3) The CIT(A)-IV, Hyderabad
4) The DIT(E), Hyderabad
5) The Departmental Representative, I.T.A.T., Hyd.