Income Tax Appellate Tribunal - Chennai
S.Praveen Kumar, Chennai vs Ito Ward 1 (Tiruvallur), Kancheepuram on 30 November, 2018
आयकर अपीलीय अिधकरण, "सी" ायपीठ, चे ई
IN THE INCOME-TAX APPELLATE TRIBUNAL 'C' BENCH, CHENNAI
ी ए. मोहन अलंकामणी, लेखा सद एवं ी धु ु आर.एल रे ी, ाियक सद के सम
Before Shri A. Mohan Alankamony, Accountant Member &
Shri Duvvuru RL Reddy, Judicial Member
S.P. No. 369/Chny/2018
[In I.T.A. No. 1905/Chny/2018]
Assessment Year: 2011-12
Shri S. Praveen Kumar, The Income Tax Officer,
No. 33/3, Ground Floor, Vs. Ward 1, (Tioruvallur),No. 96, M.M.
Veerappan Street, Sowcarpet, Avenue, Kancheepuram - 1.
Chennai 600 001.
[PAN: AAIPP9343H]
(Appellant) (Respondent)
Appellant by : Shri G. Baskar, Advocate
Respondent by : Shri B. Sagadevan, JCIT
सु नवाई की तारीख/ Date of hearing : 30.11.2018
घोषणा की तारीख /Date of Pronouncement : 30.11.2018
आदे श /O R D E R
PER DUVVURU RL REDDY, JUDICIAL MEMBER:
This stay petition is filed by the assessee seeking stay from recovery of the outstanding demand of ₹.20,69,616/-/- till the final disposal of the appeal filed by the assessee for the assessment year 2011-12.
2. The ld. Counsel for the assessee, by relying on the stay petition of the assessee, has submitted that the assessee is a trader in jewellery items and filed his return of income on 28.09.2011 admitting a total income of ₹.8,81,160/-. The said return of income was processed under section 143(1) 2 S.P. No. 369/Chny/18 of the Income Tax Act, 1961 ["Act" in short] and subsequently, scrutiny proceedings were initiated. The assessment was completed under section 143(3) of the Act by adding an amount of ₹.1,50,000/- to the income returned on account of improper maintenance of stock registers and assessed the total income of the assessee at ₹.10,31,160/-. Thereafter, the assessment was reopened under section 147 of the Act by issuing notice under section 148 of the Act. After considering the submissions of the assessee, the Assessing Officer completed the assessment under section 143(3) r.w.s. 147 of the Act by assessing the total income of the assessee at ₹.59,44,596/- after making addition of ₹.49,13,436/-, which was confirmed by the ld. CIT(A) by passing ex-parte order.
3. Before us, the ld. Counsel for the assessee has submitted that the petitioner has no liquid resources to pay the demand and moreover, there is prima facie case in appeal and prayed that the stay may be granted till the final disposal of the appeal.
4. On the other hand, the ld. DR has objected to grant the stay.
5. We have heard both sides and perused the records. We have carefully considered the entire facts of the case and arguments of the ld. Counsel for the assessee that the petitioner has no liquid resources to pay the demand raised by the Department. However, we find that the petitioner 3 S.P. No. 369/Chny/18 has not filed any financial statement expressing financial constraints. We have also considered the alternative plea of the ld. Counsel for the assessee the petitioner may be granted early hearing of the appeal. Accordingly, we hereby grant early hearing and post the appeal for hearing on 10.12.2018. Since the ld. Counsel for the assessee has endorsing in the order sheet having noted the date of hearing, no separate notice would be served. Further, we direct the assessee not to seek adjournment other than for just cause. If the assessee is found violated the above condition, the stay granted hereinabove shall be vacated automatically. With the above, stay petition filed by the assessee is disposed off.
Order pronounced on the 30th November, 2018 at Chennai.
Sd/- Sd/- (A.MOHAN ALANKAMONY) (DUVVURU RL REDDY) ACCOUNTANT MEMBER JUDICIAL MEMBER Chennai, Dated, the 30.11.2018 Vm/-
आदे श की ितिलिप अ ेिषत/Copy to: 1. अपीलाथ /Appellant, 2. थ / Respondent, 3. आयकर आयु (अपील)/CIT(A), 4. आयकर आयु /CIT, 5. िवभागीय ितिनिध/DR & 6. गाड फाईल/GF.