Income Tax Appellate Tribunal - Hyderabad
Bharathi Cement Corporation Pvt Ltd., ... vs Dcit, Circle-2(3), Hyderabad, ... on 6 January, 2017
IN THE INCOME TAX APPELLATE TRIBUNAL
HYDERABAD BENCHES "B" : HYDERABAD
BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER
AND
SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER
Stay Application No. 81/Hyd/2016
(Arising out of ITA No.1050/Hyd/2014)
Assessment Year : 2009-10
Bharathi Cement Corporation Asst. Commissioner of
Pvt. Ltd., Vs. Income Tax,
HYDERABAD Circle-2(3),
[PAN: AADCR3079G] HYDERABAD
(Applicant) (Respondent)
For Assessee : Shri S. Kalyanasundaram, AR
For Revenue : Shri K.J. Rao, DR
Date of Hearing : 06-01-2017
Date of Pronouncement : 06-01-2017
ORDER
PER B. RAMAKOTAIAH, A.M. :
By this Stay Application, assessee is seeking extension of stay of outstanding demand granted earlier by the Tribunal vide its order dt. 01-01-2016 and extended by order dt. 24-06-2016 for a further period of six months or till the disposal of the corresponding appeal by the ITAT by observing as under:
"2. After considering the rival contentions and perusing the documents placed on record, we are satisfied that assessee is not at fault in disposal of the appeal. Consequently, the stay of an amount outstanding at Rs. 31,37,70,804/- is stayed for a further period of six months or till the disposal of appeal whichever is earlier. The appeal is posted on 22-08-2016. Therefore, there is no need to issue notices as already case is posted on that date. Neither party should seek any adjournment without any valid reason."SA. No. 81/Hyd/2016
:- 2 -:
2. Since the issue in dispute is still pending for adjudication by the ITAT, the ld. AR of assessee filed the present stay application requesting us to extend the stay granted for the recovery of the outstanding demand in the assessment year under consideration.
3. Having heard both the parties and perused the material on record and taking note of the fact that the issue is still pending before the ITAT and since the non-disposal of the appeal is not due to any reason attributable to the assessee, we are inclined to grant stay of the recovery of the outstanding demand in the assessment year under consideration for a period of 180 days from the date of this order or till the disposal of the corresponding appeal by the ITAT, whichever is earlier.
4. In the result, stay application of the assessee is allowed.
Pronounced in the open court on 6 th January, 2017 upon conclusion of hearing Sd/- Sd/-
(P. MADHAVI DEVI) (B. RAMAKOTAIAH)
JUDICIAL MEMBER ACCOUNTANT MEMBER
Hyderabad, Dated 6th January, 2017
TNMM
SA. No. 81/Hyd/2016
:- 3 -:
Copy to :
1. Bharathi Cement Corporation Pvt. Ltd., 8-2-626, Reliance Majestic, Road No. 10, Banjara Hills, Hyderabad.
2. Asst. Commissioner of Income Tax, Circle-2(3), Hyderabad.
3. CIT-II , Hyderabad
4. D.R. ITAT, Hyderabad.
5. Guard File.