Income Tax Appellate Tribunal - Delhi
Sh. N.K. Goel, Delhi vs Acit, New Delhi on 7 March, 2017
IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH "FRIDAY", NEW DELHI
BEFORE SHRI S.V. MEHROTRA, ACCOUNTANT MEMBER
SA No.86/Del/2017
(In ITA No.99/Del/2017)
Assessment Year : 2008-09
N. K. Goel, ACIT, Circle- 55(1),
140, Savita Vihar, Vs. New Delhi.
Delhi.
PAN : ADUPG 6283 E
(Appellant) (Respondent)
Appellant by : Shri Rajesh Jain, CA
Respondent by : Shri Rajesh Kumar, Sr.DR
Date of hearing : 03-03-2017
Date of pronouncement : 07-03-2017
ORDER
PER S.V. MEHROTRA, A.M :
The assessee has filed this stay petition relating to assessment year 2008-09 under Rule 35A of the Income Tax (Appellate Tribunal) Rules, 1963, seeking stay of outstanding demand of Rs.9,38,770/- and Rs.1,41,000/-.
2. Ld. counsel for the assessee submitted that the assessee is a retired Government servant. He submitted that notice u/s 148 of the Income Tax Act, 1961 was served on assessee on 30th March, 2015. He pointed out that a search took place on Santosh Group of Institutions, wherein, alleged 2 SA No.86/Del/2017 material evidence was found which allegedly established that capitation fee of Rs.14,00,000/- was paid by the assessee. Ld. counsel filed a copy of Tribunal's order in the case of Rajat Shubra Chatterji vs. ACIT in ITA No.2430/Del/2015, order dated 20.05.2016, wherein, it has been, inter-alia, held that where the provisions of section 153C were applicable, the application of sections 147/148 gets excluded and the notice u/s 148 and proceedings u/s 147 were illegal and void ab initio. Ld. counsel filed a tentative Balance Sheet as on 28.02.2017 to demonstrate that the financial position of assessee is very weak, which is evident from following :-
BANK BALANCE Cash in hand 25,930.00 Syndicate Bank (71922) 80,734.11 State Bank of India (6506) 14,961.84 Punjab & Sind Bank (7856) 38,924.80 Punjab National Bank (42138) 12,539.44 173,090.19
3. I have considered the submissions of both the parties and have perused the record of the case. I find that in view of the decision of Tribunal cited by ld. counsel for the assessee, the assessee has strong arguable case in its favour and, therefore, keeping in view the fact that 15% of the demand has already been paid by the assessee and his financial position is very meager, I stay balance outstanding demand for a further 3 SA No.86/Del/2017 period of six months or till the disposal of appeal, whichever event occurs earlier. The appeal is directed to be listed on 20th March, 2017 which date was pronounced in the open court on conclusion of hearing. No separate notice for fixing the appeal on 20.03.2017 will be sent to assessee. The assessee will not seek any adjournment on the said date of hearing without reasonable cause.
4. In the result, the stay application is allowed in terms of aforementioned observations.
Order was pronounced in the open court on this 07th day of March, 2017.
Sd/-
(S.V. MEHROTRA) ACCOUNTANT MEMBER Dated : 07-03-2017.
Sujeet Copy of order to: -
1) The Appellant
2) The Respondent
3) The CIT
4) The CIT(A)
5) The DR, I.T.A.T., New Delhi
By Order
//True Copy//
Assistant Registrar
ITAT, New Delhi