Income Tax Appellate Tribunal - Bangalore
M/S. Kwality Biscuits Private Limited, ... vs Assessee on 2 November, 2010
SP 74/Bang/2010 Page - 1
IN THE INCOME TAX APPELLATE TRIBUNAL
BANGALORE BENCH 'B', BANGALORE
BEFORE DR. O. K. NARAYANAN, VICE PRESIDENT
AND
SMT. P. MADHAVI DEVI, JUDICIAL MEMBER
Stay Petition No.74/Bang/2010
(In I.T.A No.1223/Bang/2010)
(Assessment Year : 2001-02)
M/s. Kwality Biscuits P. Ltd.,
C/o. Britannia Industries Ltd.,
Britannia Gardens, Vimanapura
Bangalore 560 017 .. Applicant
v.
Asst. Commissioner of Income-tax,
Circle -11(5), Bangalore .. Respondent
Assessee by : Shri. Dilip S. Damle, CA
Revenue by : Shri. G. V. Gopala Rao, Commissioner of Income-tax-I
ORDER
PER DR. O. K. NARAYANAN, VICE PRESIDENT :
The stay petition is filed by the assessee in the light of appeal in ITA No.1223/Bang/2009 for the assessment year 2001-02. This appeal has already been heard by the regular bench of this Tribunal. But as there is a difference between the Members who have heard the appeal, the matter has been referred to the Third Member. The appeal is pending for consideration of the Third Member. Meanwhile the assessee has moved this stay petition.
SP 74/Bang/2010 Page - 2
2. The total demand outstanding in this appeal is `.12,82,27,734/-
consisting of tax element of `.6,81,59,078/- and interest element of `.5,99,68,942/-. Against the above demand, the assessee has already paid a sum of `.4 Crores. The balance amount outstanding is `.8,82,27,734/-. In the circumstances, we find it just and proper to grant stay against collection of the balance outstanding in this file. The stay is granted up to 28.02.11 or till disposal of the appeal, whichever is earlier.
3. The date of the Third Member hearing will be intimated later.
4. In result the stay petition is allowed.
Order pronounced on Tuesday, the 02nd day of November, 2010, at Bangalore.
Sd/- Sd/-
(SMT. P. MADHAVI DEVI) (DR. O. K. NARAYANAN)
JUDICIAL MEMBER VICE PRESIDENT