Income Tax Appellate Tribunal - Mumbai
Nerka Chemicals P.Ltd, vs Asst Cit Cen Cir 38, on 5 May, 2017
IN THE INCOME TAX APPELLATE TRIBUNAL "B" BENCH, MUMBAI
BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER AND SHRI PAWAN
SINGH JUDICIAL MEMBER
SA No. 272/M/2017 (AY 2010-11)
In
ITA No. 4585/M/2015
Narka Chemicals Pvt. Ltd. DCIT-CC-6(3),
50-51, GIDC Estate, Vapi, Aayakar Bhavan, M.K. Road, New
District-Valsad, Marine Lines, Mumbai-400020.
Gujarat-396195. Versus
PAN No. AAACN9337Q
Applicant Respondent
Applicant by Shri Kirit R. Kamdar (AR)
Respondent by Shri Saurabh Deshpande -DR
Date of hearing: 05/05/2017
Date of order: 05/05/2017
ORDER
PER PAWAN SINGH, JUDICIAL MEMBER:
1. The present Stay Application (S.A) is filed by assessee for extension of stay granted on 06.11.2015. The stay initially granted on 06.11.2015 which was further extended vide order dated 26.04.2016 and again on 04.11.2016 for six month or till the disposal of the appeal, whichever is earlier.
2. The ld. AR of the assessee submitted that the stay granted on 04.11.2016 has expired recently. It was further argued that the case was fixed on 28.11.2016 before B bench and the Revenue sought the adjournment on the ground that their counsel was appearing in another matter and the case was adjourned for 13.02.2017. On 13.02.2017, the Revenue further sought the adjournment that their counsel is not available and the case was adjourned for 04.04.2017. On 04.04.2017 the Revenue again sought the adjournment on the ground that the AO was not able to brief the Special counsel of Revenue and the case was again adjourned for 13.06.2017.
3. The ld. AR for the assessee prayed for extension of stay for another six month or the disposal of appeal whichever is earlier. The ld. AR for assessee also prayed that delay in disposal of appeal is not attributable to the assessee. On the other 2 S.A No. 272/M/17- Narka Chemicals Pvt. Ltd. hand, ld. DR not disputed the adjournment availed by ld. DR on various occasion. However, it is submitted by ld. DR that adjournment was availed by ld. DR concerned for valid and sufficient reasons.
4. We have considered the rival contention of the parties and perused the order-sheet of ITA No. 4585/Mum/2015. The ITA No. 4585/Mum/2015 is now fixed on 30.06.2017. We have further noticed that the hearing of the main appeal was postponed due to the reasons as explained by ld. AR of the assessee in preceding paras. We have further noticed that there is no delay attributed on the part of assessee. Considering the facts and circumstances of the case, the stay granted vide order dated 06.11.2015, which was extended on 26.04.2016 and again on 04.11.2016 and has expired. Hence, keeping in view that there is no delay on the part of assessee, the stay is further extended for another six month or till the disposal of appeal, whichever is earlier. The earlier condition imposed in order dated 06.11.2015 in respect of Share of UPL Ltd. and Uniphos Enterprises Ltd. having value of Rs. 1000 Crore will continue.
5. With the above observations, the stay application of assessee is allowed.
Order pronounced in the open court on 05th Day of May 2017 Sd- Sd-
(SHAMIM YAHYA) (PAWAN SINGH)
ACCOUNTANT MEMBER JUDICIAL MEMBER
मब
ंु ई Mumbai; दनांक Dated 05/05/2017
S.K.PS
आदे शक त ल पअ े षत/Copy of the Order forwarded to :
1. The Appellant
2. The Respondent.
3. The CIT(A), Mumbai.
4. CIT DR, ITAT, Mumbai
5. BY ORDER,
6. Guard file.
//True Copy/ (Asstt.Registrar)