Income Tax Appellate Tribunal - Delhi
M/S. Nokia Solutions And Networks India ... vs Dcit, New Delhi on 10 March, 2017
IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCHES : FRIDAY/G : NEW DELHI
BEFORE SHRI R.S. SYAL, AM & SHRI KULDIP SINGH, JM
Stay Appl.No.295/Del/2016
(ITA No.3169/Del/2016)
Assessment Year : 2006-07
Nokia Solutions and Networks India Vs. DCIT,
Pvt. Ltd. (formerly Nokia Siemens Circle 18(2),
Networks Pvt. Ltd.) New Delhi.
7th Floor, Building No.9A,
DLF Cyber City, Sector-25A,
Gurgaon.
PAN: AACCN3871F
(Appellant) (Respondent)
Assessee By : Shri Deepak Chopra &
Shri Amit Srivastava, Advocates
Department By : Shri Neeraj Kumar, CIT DR
ORDER
PER R.S. SYAL, AM:
This stay application has been filed requesting the Tribunal to stay the demand of Rs.2,70,21,635/- arising on account of interest for the assessment year 2006-07. The ld. AR submitted that there was originally Stay Application No.295/Del/2016 a demand of Rs.10.76 crore, which was adjusted against the refund due to the assessee for the AY 2009-10, thereby leaving no amount payable by the assessee. The instant demand of Rs.2.70 crore was stated to have arisen only on account of interest. The factual position so stated has not been denied by the ld. DR. It was, therefore, prayed that the stay be granted. The ld. DR opposed granting of the stay.
2. Having heard the parties and perusing the relevant material on record, we find that the original demand of tax amounting to Rs.10.76 crore has already been paid by the assessee. The current demand of Rs.2.70 crore is only on account of interest. Thus, it is seen that a substantial part of the total outstanding demand has already been paid by the assessee. We, therefore, grant stay for a period of six months from today or till the disposal of captioned appeal, whichever is earlier. However, this accommodation is subject to furnishing of undertaking to the satisfaction of the Assessing Officer to the effect that assessee will not alienate or dispose of any of its immovable properties till the final disposal of the present appeal. The assessee will also not be entitled to 2 Stay Application No.295/Del/2016 seek any adjournment without just cause. In case any of the terms and conditions is/are violated, the stay herein granted shall be vacated and appeal will revert to its original position to be fixed in routine manner. With these observations, and subject to the above terms and conditions, the stay application of the assessee gets disposed of accordingly. It has been brought to our notice that the appeal is coming up for hearing on 24.04.2017.
3. In the result, the Stay Application filed by the assessee is allowed.
The order pronounced in the open court on 10.03.2017.
Sd/- Sd/-
[KULDIP SINGH] [R.S. SYAL]
JUDICIAL MEMBER ACCOUNTANT MEMBER
Dated, 10th March, 2017.
dk
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Stay Application No.295/Del/2016
Copy forwarded to:
1. Appellant
2. Respondent
3. CIT
4. CIT (A)
5. DR, ITAT
AR, ITAT, NEW DELHI.
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