Income Tax Appellate Tribunal - Delhi
N. Shiv Kumar, Noida vs Dcit, Noida on 2 June, 2017
IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH: FRIDAY 'SMC' NEW DELHI
BEFORE SHRI R. S. SYAL, VICE PRESIDENT
S.A. No.309/Del/2017
(In I.T.A No.3314/Del/2017)
Assessment Year : 2012-13
N. Shiv Kumar, Vs DCIT,
C-91, Sector-50, Aayakar Bhawan,
Noida. A-2D, Sector-24,
Noida.
PAN: ABDPN3089L
(Applicant) (Respondent)
Assessee by : Shri M.V.V. Ramana &
Ms Rama Iyar, Advocates
Revenue by : Ms Bedobani, Sr. DR
Date of Hearing : 02.06.2017
Date of Pronouncement : 02.06.2017
ORDER
By means of the present stay application, the assessee requires the Tribunal to stay demand of Rs.10,99,200/- inclusive of interest for the A.Y. 2012-13 till the disposal of the captioned appeal by the Tribunal.
2 SA No. 309/Del/2017
2. I have heard both the sides and perused the relevant material on record. The ld. AR argued that the assessee has a prima facie good case before the tribunal. On the other hand, the ld. DR opposed the stay application.
3. Considering the totality of facts and circumstances of the instant case, I am inclined to grant stay for a period of six months or till the disposal of appeal, whichever is earlier, subject to the assessee depositing a sum of Rs. 1,50,000/-, on or before 30th June, 2017. Acceding to the request of the assessee, an early hearing is also granted in the matter. The Registry is directed to fix the appeal for hearing on 20th July, 2017. Pursuant to the ld. AR agreeing to the above arrangement for payment, an announcement to this effect was made in the open court on the conclusion of hearing.
4. However, this accommodation is subject to furnishing of undertaking to the satisfaction of the Assessing Officer to the effect that assessee will not alienate or dispose of any of its 3 SA No. 309/Del/2017 immovable properties till the final disposal of the present appeal. The assessee shall also not be entitled to seek any adjournment without just cause. In case any of the terms and conditions is/are violated, the stay herein granted shall be vacated and appeal shall revert to its original position to be fixed in a routine manner. With these observations, and subject to the above terms and conditions, the stay application of the assessee gets disposed of accordingly.
5. In the result, the stay application is allowed in above terms.
Order pronounced in the open Court at the time of hearing i.e. on 02.06.2017.
Sd/-
(R. S. SYAL) VICE PRESIDENT Dated: 02.06.2017 dk Copy forwarded to:
1. Appellant
2. Respondent
3. CIT
4. CIT(Appeals)
5. DR: ITAT ASSISTANT REGISTRAR