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Income Tax Appellate Tribunal - Kolkata

M/S Pricewaterhousecoopers Service ... vs Acit,Circle-2(2), Kol, Kolkata on 17 March, 2017

                                              1
                                                                                           S.P. No.05/Kol/2017
                                                                            Price Water House Coopers Service
                                                               Delivery Centre (Kolkata) Pvt. Ltd., AY 2012-13
       IN THE INCOME TAX APPELLATE TRIBUNAL "B" BENCH: KOLKATA
                    [Before Shri A. T. Varkey, JM & Dr. A. L. Saini, AM]

                                 S.P. No. 05/Kol/2017
                               In I.TA No. 51/Kol/2017
                              Assessment Year: 2012-13
Price Water House Coopers Service          Vs.     Assistant Commissioner of Income-tax,
Delivery Centre (Kolkata) Private Ltd.             Circle-2(2), Kolkata.
(PAN: AADCG7191E)
Applicant                                          Respondent


                     Date of hearing:             17.03.2017
                     Date of pronouncement:       17.03.2017

                     For the Applicant: Shri Ravi Sharma, AR
                     For the Respondent: Shri Saurav Kumar, Addl. CIT, Sr. DR

                                  ORDER
Per Shri A.T.Varkey, JM

This stay application filed by the assessee against the assessment order dated 29.11.2016 pursuant to the order passed by DRP u/s. 144C(5) of the Income-tax Act, 1961 for AY 2012-13 praying for an order of stay of recovery of outstanding demand of Rs.4,39,18,480/-.

2. At the outset, it has been pointed out by the Ld. AR that out of the total demand of Rs.4,39,18,480/- inclusive of interest, the assessee has paid 10% of the demand. The assessee states it has a very good case and the dispute is limited to one comparable alone and, therefore, the balance of convenience is in its favour. Therefore, he prays for stay of the balance amount till the disposal of the appeal. The Ld. DR opposed the blanket stay and pleads that at least 50% of the demand should be paid by the assessee.

3. We have heard rival submissions and perused the material available on record. We note that total tax demand is of Rs.4,39,18,480/- out of which the assessee has paid 10% of the total tax demand. The Ld. DR contends that at least 50% of the amount should be paid. However, we are inclined to grant stay to the assessee for six months or till the disposal of the appeal, whichever is earlier provided the assessee pays 15% more i.e. total 25% i.e. Rs.

Price Water House Coopers Service Delivery Centre (Kolkata) Pvt. Ltd., AY 2012-13 61 lacs. The assessee is directed to pay Rs. 21 lacs by 30.03.2017 and Rs. 40 lacs by 10.04.2017. In case, the assessee complies with the said direction the appeal is to be posted out of turn hearing on 11.04.2017. The assessee shall not seek any adjournment without just cause.

4. In the result, Stay application of assessee is allowed in terms of the above.

Order is pronounced in the open court.

         Sd/-                                                                Sd/-
 (Dr. A. L. Saini)                                                (Aby. T. Varkey)
Accountant Member                                                  Judicial Member
                              Dated : 17th March, 2017

Jd.(Sr.P.S.)

Copy of the order forwarded to:

1. Appellant - Price Water House Coopers Service Delivery Centre (Kolkata) Pvt. Ltd., Plot No. Y-14, Block EP, Sector-V, Salt Lake City, Kolkata-700 091.

2 Respondent -ACIT, Circle-2(2), Kolkata.

3. The CIT(A), Kolkata

4. CIT , Kolkata

5. DR, Kolkata Benches, Kolkata /True Copy, By order, Asstt. Registrar.