Income Tax Appellate Tribunal - Ahmedabad
Soft Touch Fabrics Pvt. Ltd.,, Surat vs The Dy.Cit, Circle-2(1)(2),, Surat on 12 January, 2017
IN THE INCOME TAX APPELLATE TRIBUNAL
AHMEDABAD "D" BENCH AHMEDABAD
BEFORE SHRI PRAMOD KUMAR, ACCOUNTANT MEMBER,
AND SHRI S. S. GODARA, JUDICIAL MEMBER.
Stay Application No. 123/Ahd/2016
(in ITA No.491/Ahd/2016)
(Assessment Year:2012-13)
M/s. Soft Touch Fabrics Pvt. Ltd.,
102, 1st Floor, Airlon House,
2/4569 Main Road, Sangrampura,
Surat - 395002 Appellant
Vs.
DCIT,
Circle - 2(1)(2), Surat Respondent
PAN: AAIHM4574M
आवेदक क ओर से/By Assessee : Shri R. B. Shah, A.R.
राज व क ओर से/By Revenue : Shri K. Madhusudan, Sr. D.R.
सन
ु वाई क तार ख/Date of Hearing : 06.01.2017
घोषणा क तार ख/Date of
Pronouncement : 12.01.2017
ORDER
PER S. S. GODARA, JUDICIAL MEMBER
This assessee's petition filed u/s.254 (2A)(first proviso) of the Income Tax Act, 1961; in short 'the Act' seeks to restrain the department from affecting recovery of the impugned demand including tax and interest totaling to Rs.40,36,350/-.
We have heard both the parties. Case file perused.
2. A perusal of the case file reveals that the Assessing Officer framed regular assessment in assessee's case making disallowances/additions S.A. No. 123/Ahd/2016 (Soft Touch Fabrics Pvt. Ltd. vs. DCIT) A.Y. 2012-13 -2- u/s.14A amounting to Rs.22,12,957/-, Section 68 unexplained cash credit involving a sum of Rs.60,00,000/- and interest expenses thereupon of Rs.5,39,057/- resulting in consequential computation of Rs.1,45,46,844/- as against the income already declared of Rs.57,94,830/-. The CIT(A) upholds the Assessing Officer's action in the lower appellate order under challenge.
3. We have given our thoughtful considerations to rival contentions. It is evident that the assessee has already paid a sum of Rs.5,00,000/- out of the impugned outstanding demand. It has further filed stay application before the Principal Commissioner of Income Tax -2, Surat on 15.11.2006. The same has also not been disposed of till date. We observe in these peculiar facts that the assessee has been able to make out a prima facie case in its favour on account of the department inaction in not disposing of its stay application even after a time span of almost two months. We thus direct the Revenue authorities not to take any coercive action against assessee. Learned authorized representative very fairly states that the assessee also prays for an early actual date in the main case. Ld. Departmental Representative does not raise any objection. We thus direct the registry to fix the main case for hearing on 14.02.2017. Both parties stand informed in the course of hearing itself. The assessee shall not seek any adjournment unless very compelling circumstances on the said date.
4. This assessee's stay petition is allowed in above terms.
[Pronounced in the open Court on this the 12th day of January, 2017.] Sd/- Sd/-
(PRAMOD KUMAR) (S. S. GODARA)
ACCOUNTANT MEMBER JUDICIAL MEMBER
Ahmedabad: Dated 12/01/2017
True Copy
S.K.SINHA
आदे श क त ल प अ े षत / Copy of Order Forwarded to:-
S.A. No. 123/Ahd/2016 (Soft Touch Fabrics Pvt. Ltd. vs. DCIT) A.Y. 2012-13 -3-
1. राज व / Revenue
2. आवेदक / Assessee
3. संबं धत आयकर आयु!त / Concerned CIT
4. आयकर आयु!त- अपील / CIT (A)
5. )वभागीय ,-त-न ध, आयकर अपील य अ धकरण, अहमदाबाद / DR, ITAT, Ahmedabad
6. गाड3 फाइल / Guard file.
By order/आदे श से, उप/सहायक पंजीकार आयकर अपील य अ धकरण, अहमदाबाद ।