Income Tax Appellate Tribunal - Mumbai
Maharashtra Industrial Development ... vs Deputy Commissioner Of Income Tax ... on 16 March, 2018
IN THE INCOME TAX APPELLATE TRIBUNAL
MUMBAI BENCH "I", MUMBAI
BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND
SHRI RAVISH SOOD, JUDICIAL MEMBER
SA NOS. 179 TO 185/MUM/2018 : A.Ys : 2007-08 TO 2010-11,
(in ITA NOS. 4326, 4327, 4329, 4331, 2012-13 TO 2014-15
4532, 4475 & 4476/MUM/2017)
Maharashtra Industrial Vs. ACIT (Exemptions)-2(1),
Development Corporation, Mumbai (Respondent)
Chief Accounts Officer ("CAO")
Maharashtra Industrial
Development Corporation,
Udyog Sarathi, Mahakali Caves
Road, Andheri (E), Mumbai 400 093.
PAN : AAACM3560C (Applicant)
Applicant by : Shri V. Sridharar, Shri S. Sriram &
Ms. Chandni Patel
Respondent by : Shri Suman Kumar
Date of Hearing : 16/03/2018
Date of Pronouncement : 16/03/2018
ORDER
PER G.S. PANNU, AM
The said stay applications have been moved for seeking stay on the recovery of demands for seven assessment years comprising of Assessment Year 2007-08 to 2014-15, except for Assessment Year 2011-12, after the respective appeals of the assessee have been dismissed by the CIT(A). The 2 SA Nos. 179 to 185/Mum/2018 Maharashtra Industrial Development Corpn.
total disputed demand outstanding for all the years is to the tune of Rs.65,38,86,13,679/- (inclusive of interest), and the corresponding appeals are pending before the Tribunal.
2. It was explained before us that till the stage of CIT(A), judgment of Hon'ble Supreme Court in Civil Appeal Nos. 4557 to 4558/2017 dated 24.03.2017 governed the situation and the Department was prevented from taking coercive steps for recovery of the outstanding demand subject to certain conditions. The CIT(A) has since dismissed the appeals of the assessee on 31.03.2017, and the judgment of the Hon'ble Supreme Court does not protect the assessee anymore.
3. Presently, it is submitted that the assessee has approached the Commissioner of Income-tax (Exemptions) (in short 'the Commissioner') seeking stay on the recovery of outstanding demand and two hearings took place on 16.02.2018 and 23.02.2018. The response of the Commissioner is awaited. In the meanwhile, the Applicant has come to the Tribunal apprehending coercive measures by the Assessing Officer to recover the demands.
4. After hearing both the sides, and considering the factual matrix, it is hereby directed that the Commissioner shall dispose off the stay applications of the assessee by way of a speaking order expeditiously. The Assessing Officer is directed not to pursue any coercive measures till such time the application is disposed-off by the Commissioner, and in case the Commissioner passes an order adverse to the assessee, the Assessing Officer shall wait seven days thereafter before initiating coercive measures, thereby 3 SA Nos. 179 to 185/Mum/2018 Maharashtra Industrial Development Corpn.
allowing the assessee sufficient time to pursue the legal remedies available in law. Thus, for the present, the captioned applications are disposed-off accordingly.
The above decision was pronounced in the open court in the presence of both the parties at the conclusion of the hearing on 16th March, 2018.
Sd/- Sd/-
(RAVISH SOOD) (G.S. PANNU)
JUDICIAL MEMBER ACCOUNTANT MEMBER
Mumbai, Date : 16th March, 2018
*SSL*
Copy to :
1) The Appellant
2) The Respondent
3) The CIT(A) concerned
4) The CIT concerned
5) The D.R, "I" Bench, Mumbai
6) Guard file
By Order
Dy./Asstt. Registrar
I.T.A.T, Mumbai