Income Tax Appellate Tribunal - Delhi
Sneh Lata Garg, Delhi vs Dcit Central Circle-5, New Delhi on 29 March, 2019
IN THE INCOME TAX APPELLATE TRIBUNAL
(DELHI FRIDAY BENCH "SMC" NEW DELHI )
BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER
Stay Application No. 430/Del/2019
( In ITA No. 2007/Del/2019)
Asstt. Year : 2015-16
SNEH LATA GARG Vs. DCIT, CC-5,
TU-70, PITAMPURA, NEW DELHI
NEW DELHI
(PAN: ADGPL7611R)
( Applicant) ( Respondent )
Applicant by : Sh. Gautam Jain, Adv.
Respondent by : Ms. Ashima Neb, Sr. DR.
ORDER
This Stay Application u/s 35A of the Income-tax Appellate Tribunal Rules, 1963 has been preferred by the assessee, seeking stay of balance outstanding demand of Rs. 8,30,218/-. Ld. Counsel of the assessee has stated that assessee has already deposited Rs. 7,15,680/- out of aggregate demand of Rs. 15,45,900/- which is approximately 46% of total demand. It was further submitted that the issue involved in the instant application is relating to disallowance of Rs. 36,95,007/- being short term capital loss in respect of transaction on stock exchange supported by balance sheet, contract notes and statement of account of broker. It was further submitted that presently assessee is not in the financial position to deposit such 1 a heavy demand of tax. It was further submitted that balance outstanding demand of Rs. 8,30,218/- may kindly be stayed and further more direction be issued for revoking the attachment of following bank accounts and early hearing in the main appeal may be also be granted.
S.No. Name of bank Account No.
Attachment
dated
1 Bank of Baroda, Jaipur 56740100000553 20.3.2019
Road, Bikaner
2. IndusInd Bank, Prashant 159910040030 26.3.2019 Vihar, New Delhi
2. On the contrary, Ld. DR opposed the request for grant of stay made by the Ld. counsel for the assessee.
3. I have heard both the parties and perused the records available with me, especially the orders of the authorities below. Keeping in view of the facts and circumstances of the case, I am of the considered view that the assessee has established the prima facie case in its favour and also balance of convenience is in its favour for grant of stay on the balance outstanding demand in dispute.
Accordingly, in the interest of justice, I grant the Stay on the outstanding demand in dispute for the period of 180 days or till the disposal of the aforesaid main appeal, whichever occurs first and also direct the AO to revoke the attachment of the aforementioned bank accounts reproduced in para no. 1 of this order. The request for 2 early hearing is also granted and Registry is directed to fix the main appeal for hearing on 26.06.2019. The copy of this Order be given to both the parties DASTI.
4. In the result, the Assessee's Stay Application stands disposed off, as aforesaid.
Order pronounced on 29-03-2019.
Sd/-
[H.S. SIDHU] JUDICIAL MEMBER Date 29/03/2019 SRBHATNAGAR Copy forwarded to: -
1. Appellant 2. Respondent 3. DIT 4. CIT (A)
5. DR, ITAT TRUE COPY By Order, Assistant Registrar, ITAT, Delhi Benches 3