Income Tax Appellate Tribunal - Hyderabad
Sanjay Vyas, Hyderabad vs Income Tax Officer, Ward-7(2), ... on 20 September, 2019
1
IN THE INCOME TAX APPELLATE TRIBUNAL
HYDERABAD BENCH "B", HYDERABAD
BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER
AND
SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER
SA Nos.218, 219 & 220/Hyd/2019
(In ITA Nos.2056, 2057 & 2058/Hyd/2017)
Assessment Year: 2008-09, 2009-10 & 2010-11
Sanjay Vyas, Vs. Income Tax Officer,
Hyderabad. Ward-7(2),
PAN: AFQPV 1807 F Hyderabad.
(Appellant) (Respondent)
Assessee by: Sri P. Murali Mohana Rao
Revenue by: Sri Nilanjan Dey, DR
Date of hearing: 20/09/2019
Date of pronouncement: 20/09/2019
ORDER
PER A. MOHAN ALANKAMONY, AM.:
The above captioned Stay Applications are filed by the assessee seeking stay from recovery of the outstanding demand of Rs. 4,22,088/, Rs. 9,64,453/- and Rs. 3,63,095/- for the A.Y. 2008-09, 2009-10 and 2010-11 respectively.
2. At the outset the Ld. AR submitted before us that the assessee has TDS credit and refund due aggregating to Rs. 1,46,590/-, Rs. 2,84,700/- and Rs. 1,44,870/- against the total demand of Rs. 5,68,678/- (Tax - Rs. 3,07,246 + Rs. 2,61,432 interest), Rs. 10,95,165/- 2 (Tax Rs. 6,23,737 + interest 4,71,428) Rs. 5,07,965/- (Tax - Rs. 3,09,909 + Rs. 1,98,056 interest) thus the outstanding demands are Rs. 4,22,088/, Rs. 9,64,453/- and Rs. 3,63,095/- for the A.Y. 2008-09, 2009-10 and 2010-11 respectively. Learned Counsel for the Assessee also submitted that the Ld. CIT (A) has granted substantial relief and further the assessee has fair chance to succeed in the appeal with respect to the additions sustained by the Ld. CIT (A). The Ld. AR further pleaded that the financial position of the assessee is precarious and therefore stay may be granted to the assessee from the recovery of the outstanding demand. The Ld DR vehemently opposed to the submission of the Ld AR.
3. We have heard the rival submissions and carefully perused the materials on record. Since the issues involved in the appeals are debatable and the outstanding demand is minimum, we are of the considered view that recovery of the outstanding demand is not warranted at this stage. Therefore, we hereby grant stay from recovering the outstanding demand by the Revenue in the case of the assessee for the AYs 2008-09, 2009-10 and 2010-11 for a period of 180 days from this day or the pronouncement of the order whichever is earlier.
3
4. In the result, all the three Stay Petitions of the assessee are allowed as indicated herein above.
Pronounced in the open Court on 20 th September, 2019.
Sd/- Sd/-
(P. MADHAVI DEVI) (A. MOHAN ALANKAMONY)
JUDICIAL MEMBER ACCOUNTANT MEMBER
Hyderabad, Dated: 20 th September, 2019 OKK Copy to:-
1) Sanjay Kumar Vyas, C/o. P. Murali &Co., Chartered Accountants, 6-3-655/2/3, 1 s t Floor, Somajiguda, Hyderabad-
82.
2) ITO, Ward-7(2), Hyderabad.
3) The CIT(A)-3, Hyderabad 4) The Pr. CIT-3, Hyderabad 5) The DR, ITAT, Hyderabad 6) Guard File