Income Tax Appellate Tribunal - Delhi
A.H.Multisoft P.Ltd, New Delhi vs Ito, Ward-1(1), New Delhi on 6 October, 2023
IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH 'A', NEW DELHI
Before Sh. Saktijit Dey, Vice President
Dr. B. R. R. Kumar, Accountant Member
SA No. 336/Del/2023
(in ITA No. 2400/Del/2023 : Asstt. Year : 2016-17)
A. H. Multisoft P. Ltd., Vs Income Tax Officer,
C/o Sanjiv Sapra & Associates LLP, CAs Ward-1(1),
C-763, New Friends Colony, New Delhi-110002
New Delhi-110025
(APPELLANT) (RESPONDENT)
PAN NO. AAGCA0146C
Assessee by : Sh. Sanjiv Sapra, CA
Revenue by : Sh. Vivek K. Upadhyay, Sr. DR
Date of Hearing: 22.09.2023 Date of Pronouncement: 06.10.2023
ORDER
Per Dr. B. R. R. Kumar, Accountant Member:
Captioned application has been filed by the assessee seeking stay on recovery of outstanding demand pertaining to Assessment Year 2016-17.
2. Heard the arguments of both the parties and peruse d the material available on record.
3. The tax position is as under:
Income Tax Rs.10,49,51 ,739
Interest Rs.3,46,22,116
Total Rs.13,95,73 ,855
Demand Paid Rs.2,80,57,351
2 SA No. 336/Del/2023
A.H. Multisoft Pvt. Ltd.
4. The demand has been raised by the Revenue by invoking Rule 11UA(1)(b) of I.T. Rules with reference to provisio ns of Section 56(2 )(viib). It was argued that the AO has made addition of contrary to the provisions of Expla nation A-1 of Section 56. It was submitted that the assessee ha s already paid an amount of Rs.2.80 Cr.
5. Having considered the prima facie case and gone through the financials of the assessee, we are of the view that this is a fit case to grant absolute stay. Further, we dire ct the Registry to fix the appeal for hearing on 28.11.2023. Paper boo ks, if any, must be filed by the parties in the meanwhile. Since, the date of hearing of appeal was announced in the open court, there is no need for issuing separate hearing notices to the parties.
6. In the result, the Stay Application of the assessee is allowed.
Order Pronounced in the Open Court on 06/10/202 3 .
Sd /- S d/ -
(Saktijit Dey) (Dr. B. R. R. Kumar)
Vice President Accountant Member
Dated: 06/10/2023
*Subodh Kumar, Sr. PS*
Copy forwarded to:
1. Appellant
2. Respondent
3. CIT
4. CIT(Appeals)
5. DR: ITAT
ASSISTANT REGISTRAR