Income Tax Appellate Tribunal - Bangalore
Nxp Semiconductors India Private ... vs Dcit, Circle-5(1)(1), Bangalore on 3 November, 2017
IN THE INCOME TAX APPELLATE TRIBUNAL
BANGALORE BENCH ' A '
BEFORE SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND
SHRI JASON P BOAZ, ACCOUNTANT MEMBER
S.P. Nos.172 & 173/Bang/2017
(In I.T.(T.P) A. Nos.306/Bang/2016 & 692/Bang/2017)
(Assessment Years : 2011-12 & 2012)
M/s. NXP Semiconductors India Pvt. Ltd.,
Nagawara Village, Kasaba Hobli,
Nagawara, Bangalore-560 045 .... Petitioner.
Vs.
Dy. Commissioner of Income Tax,
Circle 5(1)(1), Bangalore. ..... Respondent.
Petitioner By : Shri Chavali Narayan, C.A.
Respondent By : Shri B.R. Ramesh, JCIT (D.R)
Date of Hearing : 3.11.2017.
Date of Pronouncement : 3.11.2017.
O R D E R
Per Shri Jason P Boaz, A.M. :
These stay petitions arises out of the appeals in IT(TP)A Nos.306/Bang/2017 and 692/Bang/2017 for the Assessment Years 2011- 12 & 2012-13 respectively.
2. Briefly stated, the facts relevant for disposal of these Stay Petitions is as under :
2S.P. Nos.172 & 173/Bang/2017 2.1 The assessee is a company engaged in the business of software development. In the orders of assessment for the assessment years concerned the details of demand raised, paid and outstanding is as follows :
Assessment Year 2011-12 Total demand raised (inclusive of Rs.23,22,41,275 interest of Rs.6,09,54,500) Demand Paid Rs.9,95,03,665 Outstanding demand Rs.13,27,37,610 Assessment Year 2012-13 Total demand raised (inclusive of Rs.12,23,40,374 interest of Rs.1,49,33,573) Demand Paid Rs.8,98,34,230 Outstanding demand Rs.3,25,06,140 2.2 According to the learned Authorised Representative of the assessee, the impugned final orders of assessment for Assessment Years 2011-12 and 2012-13, passed in pursuance of the directions issued by the Dispute Resolution Panel for both these assessment years are not in conformity with the provisions of law and judicial precedents and therefore the assessee has a fair chance of succeeding before the 3 S.P. Nos.172 & 173/Bang/2017 Tribunal on the merits of the case. It was submitted that for Assessment Year 2011-12, the assessee has so far paid taxes of Rs.9,95,03,665 out of total demand raised of Rs.23,22,41,275 (inclusive of interest component of Rs.6,09,54,500), which is more than 50% of the tax demand raised, excluding interest. In Assessment Year 2012-13, the assessee has so far paid taxes of Rs.8,98,34,230 out of the total demand of Rs.12,23,40,374 (inclusive of interest charged of Rs.1,49,33,573); which is more than 50% of the tax demand raised, excluding interest. In these circumstances it was prayed that the outstanding demand be stayed till disposal of the pending appeals for Assessment Year2 2011-12 & 2012-13. 2.3 Per contra, the learned Departmental Representative vehemently opposed the assessee's stay petitions for grant of stay on recovery of demand.
2.4 We have heard the rival contentions, perused and carefully considered the material on record. After due consideration of the facts of the case, the financial position of the assessee and the balance of convenience, we are of the considered opinion that this is a fit case for grant of stay on recovery of outstanding demand for a period of 180 days, commencing today or till disposal of the appeals whichever is earlier; but subject to the following conditions :
(i) For A.Y. 2011-12, the assessee pays tax of an amount of Rs.1.50 Crores on or before 30.11.2017.
(ii) For A.Y. 2012-13, the assessee pays tax of an amount of Rs.1 Crore on or before 31.12.2017.4
S.P. Nos.172 & 173/Bang/2017
(iii) The hearing of these appeals for Assessment Years 2011-12 and 2012-13 are fixed for hearing on 9.1.2018. Since the date of hearing has been announced in open court in the presence of the parties counsel, there is no requirement for the Registry to issue notices to the parties separately in the matter.
(iv) We make it clear that the assessee should not seek any adjournments in the course of hearings of these appeals without justifiable reasons.
(v) Should the assessee breach any of the aforesaid conditions without justifiable reasons, this stay granted shall stand vacated automatically.
3. In the result, the Stay Petitions for Assessment Years 2011-12 and 2012-13 are allowed.
Order pronounced in the open court on the 3rd day of Nov.,2017.
Sd/- Sd/-
(SUNIL KUMAR YADAV) (JASON P BOAZ)
Accountant Member Judicial Member
Bangalore,
Dt. 3.11.2017.
*Reddy gp
5
S.P. Nos.172 & 173/Bang/2017
Copy to :
1 Appellant 4 CIT(A)
2 Respondent 5 DR. ITAT, Bangalore
3 CIT 6 Guard File
Senior Private Secretary
Income Tax Appellate Tribunal
Bangalore.