Income Tax Appellate Tribunal - Mumbai
Clsa India P. Ltd., Mumbai vs Addl. Cit Drp-1, Mumbai on 3 December, 2021
SA No. 56/Mum/2021
Assessment Year: 2016-17
Page 1 of 3
IN THE INCOME TAX APPELLATE TRIBUNAL
MUMBAI "K" BENCH, MUMBAI
[Coram: Pramod Kumar (Vice President)
And Ravish Sood (Judicial Member)]
SA No. 56/Mum/2021
(Arising out of ITA No.549/Mum/2021)
Assessment year: 2016-17
CLSA India Private Limited ............................Applicant
8/F, Dalamal House,
Nariman Point,
Mumbai-400 021 [PAN: AAACC 2262 K]
Vs
Addl. Commissioner of Income Tax (DRP) ............................Respondent
Circle-1, Mumbai
Appearances by
Karishma Phatarphekar for the applicant
Satya Pinisetty for the respondent
Date of concluding the hearing : December 03, 2021
Date of pronouncement : December 03, 2021
ORAL ORDER
(Dictated in the open court) Per Pramod Kumar, VP:
1. By way of this stay application, the assessee applicant seeks a stay on the collection/recovery of the outstanding tax and interest demand, aggregating to Rs.80,59,48,600/-, including the appeal before us in the matter of assessment u/s.143(3) r.w.s.
144C(13) of the Income Tax Act, 1961 for the Assessment Year 2016-17.
2. When the stay application was taken up for hearing, the learned counsel for the assessee invited out attention to the letter dated 17.11.2021 by the Assessing Officer, which SA No. 56/Mum/2021 Assessment Year: 2016-17 Page 2 of 3 inter alia assures us that "no coercive action will be taken for recovery of the outstanding demand". The ld. Departmental Representative accepts and recounts this position.
3. In view of the above position, the stay application is dismissed as infructuous. Order dictated and pronounced in the open court itself, i.e., on 3rd day of December, 2021.
Sd/- Sd/- Ravish Sood Pramod Kumar (Judicial Member) (Vice President)
Mumbai, dated the 3 rd day of December, 2021 Roshani, Sr. PS Copies to: (1) The Applicant (2) The respondent (3) CIT (4) CIT(A) (5) DR (6) Guard File By order True Copy Assistant Registrar/Sr. PS Income Tax Appellate Tribunal Mumbai benches, Mumbai