Income Tax Appellate Tribunal - Jaipur
Vaibhav Global Ltd., Jaipur vs Acit, Jaipur on 21 February, 2017
vk;dj vihyh; vf/kdj.k] t;iqj U;k;ihB] t;iqj
IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, JAIPUR
Jh HkkxpUn] ys[kk lnL; ,oa Jh dqy Hkkjr] U;kf;d lnL; ds le{k
BEFORE: SHRI BHAGCHAND, AM AND SHRI KUL BHARAT, JM
Stay Application No. 2/JP/2017
( Arising out of IT(TP)A No. 01/JP/2017)
fu/kZkj.k o"kZ@Assessment Year : 2012-13.
M/s. Vaibhav Global Ltd., cuke The Asstt. Commissioner of Income-tax,
(Formerly known as M/s. Vs. Circle-5,
Vaibhav Gems Ltd.) Jaipur.
K-6B, Fateh Tiba, Adarsh
Nagar, Jaipur.
LFkk;h ys[kk la-@thvkbZvkj la-@PAN No. AAACV 4679 F
vihykFkhZ@Appellant izR;FkhZ@Respondent
fu/kZkfjrh dh vksj ls@ Assessee by : Shri S.R. Sharma (C.A)
jktLo dh vksj ls@ Revenue by: Smt. Roshanta Meena (JCIT)
lquokbZ dh rkjh[k@ Date of Hearing : 17.02.2017.
?kks"k.kk dh rkjh[k@ Date of Pronouncement : 21/02/2017.
vkns'k@ ORDER
PER SHRI KUL BHARAT, J.M.
This is a Stay Application filed by the assessee requesting to stay the total demand of Rs. 14,97,97,320/-.
2. The ld. Counsel for the assessee has reiterated the submissions as made in the Stay Application. The ld. Counsel for the assessee submitted that the assessee has a prima facie good case and the entire demand is highly unjustified and in all probability is likely to be deleted by the Hon'ble Tribunal. Therefore, he requested to stay the demand.
3. On the contrary, the ld. D/R opposed the submissions.
4. We have heard rival contentions and perused the material on record. During the course of hearing, the ld. Counsel for the assessee submitted that the assessee 2 SA No. 2/JP/2017 M/s. Vaibhav Global Ltd.
has filed an application under section 220 of the Income Tax Act, 1961 before revenue authorities. The same is pending for adjudication. Under these facts, the stay application so filed is pre-mature. The same is rejected as such. However, the assessee would be at liberty to approach this Tribunal if its application is rejected by the revenue authorities.
5. In the result, Stay Application is dismissed.
Order pronounced in the open court on 21/02/2017.
Sd/- Sd/-
( HkkxpUn] ½ ( dqy Hkkjr)
(BHAG CHAND ) ( KUL BHARAT )
ys[kk lnL;@Accountant Member U;kf;d lnL;@Judicial Member
Jaipur
Dated:- 21/02/2017.
d/
vkns'k dh izfrfyfi vxzfs "kr@Copy of the order forwarded to:
1. The Appellant- M/s. Vaibhav Global Ltd., Jaipur.
2. The Respondent - The ACIT, Circle-5, Jaipur.
3. The CIT(A).
4. The CIT,
5. The DR, ITAT, Jaipur
6. Guard File (SA No. 2/JP/2017) vkns'kkuqlkj@ By order, lgk;d iathdkj@ Assistant. Registrar 3 SA No. 2/JP/2017 M/s. Vaibhav Global Ltd.