Income Tax Appellate Tribunal - Mumbai
Star India P.Ltd, Mumbai vs Asst Cit 16(1), Mumbai on 8 September, 2017
आयकर अपील य अ
धकरण "K"
यायपीठ मुंबई म ।
IN THE INCOME TAX APPELLATE TRIBUNAL "K" BENCH, MUMBAI
BEFORE SHRI C N PRASAD, JUDICIAL MEMBER AND
SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER
SA Nos. 396/Mum/2017
Arising out of ITA No . 1048/Mum/2017
Assessment Year 2012-13
Star India Private Limited Assiatant Commissioner of
STAR House, Urmi Estate Income Tax Circle-16(1)
95, Ganaptrao Kadam Marg Room No. 467, 4th Floor,
Lower Parel(W), v. Aayakar Bhawan,
Mumbai-400013 M K Road,
Mumbai-400020
PAN AAACN1335Q
Applicant Respondent
Applicant by Sh. Divesh Chawla
Respondent by Shri Saurabh Deshpande
Date of Hearing : 08-09-2017
Date of Pronouncement : 08-09-2017
ORDER
PER RAMIT KOCHAR, Accountant Member :
1. The assessee has filed this stay application bearing number SA no.396/Mum/2017 arising out of ITA no.
1048/Mum/2017 for assessment year 2012-13 seeking extension of stay of outstanding demand of Rs. 84,93,18,854/- 2 SA No. 396 /Mum/2017 already granted by Tribunal vide SA no. 74/Mum/2017 vide orders dated 21-02-2017 which stay order was later modified by tribunal vide orders dated 14-03-2017 arising out of ITA no. 1048/Mum/2017 , as now it is claimed by the assessee that Rs. 25 crores as directed by the tribunal vide aforesaid orders dated 21-02-2017 which was modified by orders dated 14-03-2017 stood paid by the assessee vide challan number 12443 dated 27-03-2017 for Rs. 10 crores and challan no 10662 dated 31-03-2017 for Rs. 15 crores , aggregating to Rs. 25 crores both challans paid by the assessee into IDBI Bank Belapur, Mumbai( copies placed along with stay petition filed at page 74 and 76).
2. The Tribunal has earlier granted stay of outstanding demand of tax and interest in S.A no. 74/Mum/2017 arising out of 1048/Mum/2017 for assessment year 2012-13 vide stay order dated 21st February , 2017 which stay order was later modified by tribunal vide orders dated 14-03-2017 , wherein the stay of outstanding demand of tax and interest was granted for a period 180 days from the date of its modified order on 14-03- 3 SA No. 396 /Mum/2017 2017 . The Tribunal while disposing of the above stated stay application no 74/Mum/2017 for assessment year 2012-13 vide orders dated 21-02-2017 and 14-03-3017 has placed a condition that the assessee shall not seek adjournment in the absence of any reasons beyond the control of the assessee . The tribunal also directed the assessee to pay Rs 10 crores as a condition of granting stay of demand as well granted liberty to Revenue to recover Rs 15 crores out of refunds due to the assessee. The assessee in any case has demonstrated before us that it paid Rs 25 crores against the outstanding demand and hence the condition stipulated by tribunal in its stay order for adjustment of refund of Rs 15 crores stood fulfilled in its spirit as the said sum of money stood deposited by the assessee to the credit of Central Government.
3. Now, the assessee is before the tribunal with this stay application for seeking extension of stay for assessment year 2012-13. The learned counsel for the assessee submitted date sheet which is part of stay applications and submitted that the assessee has not sought any adjournment during the 4 SA No. 396 /Mum/2017 intervening period from the grant of the earlier stay till date, and it was stated that said details of hearing taking place in the intervening period are placed in the stay application which can be verified from the records. It is stated that the assessee is not at fault and in-fact it is Revenue which sought adjournments or the bench did not function on those days. Further, it was stated that the assessee has duly paid the outstanding tax of Rs. 25,00,00,000/- which is detailed in the preceding para's of this order, as directed by the tribunal. It was also submitted that there are no change in other facts and prayer was made for extension of stay of outstanding demand of taxes and interest for AY 2012-13.
4. The learned DR objected to extension of stay but fairly admitted the factual matrix as detailed in stay petition as also what was stated by learned counsel for the assessee during the course of hearing, to be correct position on facts.
5. After hearing both the parties, we are of the considered view that the assessee has duly complied with the terms of stay of 5 SA No. 396 /Mum/2017 outstanding demand of tax and interest granted by the tribunal earlier vide orders in S.A no. 74/Mum/2017 arising out of 1048/Mum/2017 for assessment year 2012-13 vide stay order dated 21st February, 2017 which was later modified by the tribunal vide orders dated 14-03-2017. We have observed that the assessee has not sought any adjournments for the assessment year 2012-13 during the intervening period from the date of grant of stay by tribunal till as of now. It is also observed that the assessee has duly deposited the amount of tax of Rs. 25 crores as directed by the tribunal as condition for stay of demand for the assessment year 2012-13. Thus, keeping in view factual matrix of the stay petition, we are inclined to extend the stay for the assessment year 2012- 13 of the outstanding demand of tax and interest for a period of 180 days(one hundred and eighty days) , or till the disposal of appeal whichever is earlier. The assessee shall not seek any adjournment except on cogent grounds in exceptional circumstances. The other terms and conditions of the stay as per stay orders dated 21-02-2017 which was later modified vide stay orders dated 14-03-2017 shall continue to operate. 6 SA No. 396 /Mum/2017
In case the assessee seeks adjournment without any cogent reasons, the stay shall stand vacated. We would clarify that we have not commented on the merits of the impugned appeals.
6. In the result , stay petition fixed before the tribunal for AY 2012-13 is allowed subject to directions given by us as above. Order pronounced in the open court on 08th September 2017.
Sd/- sd/-
(C N PRASAD) (RAMIT KOCHAR)
JUDICIAL MEMBER ACCOUNTANT MEMBER
Mumbai,08-09-2017.
copy to...
1. The appellant
2. The Respondent
3. The CIT(A) - Concerned, Mumbai
4. The CIT- Concerned, Mumbai
5. The DR Bench, E
6. Master File
// Tue copy//
BY ORDER
DY/ASSTT. REGISTRAR
ITAT, MUMBAI