Income Tax Appellate Tribunal - Mumbai
Johnson And Johnson Private Limited, ... vs Additional Commissioner Of Income ... on 10 November, 2017
IN THE INCOME TAX APPELLATE TRIBUNAL
MUMBAI BENCH "K", MUMBAI
BEFORE SHRI D.T. GARASIA (JUDICIAL MEMBER) AND
SHRI N.K. PRADHAN (ACCOUNTANT MEMBER)
SA No. 454/Mum/2017
(In ITA No. 6142/Mum/2017)
Assessment Year: 2008-09
M/s Johnson & Johnson ACIT (LTU)-1
Pvt. Ltd. Vs. Mumbai
501, Arena Space, Off
JVLR, Opp. Majas Bus
Depot, Jogeshwari (E)
Mumbai-400060.
PAN No. AAACJ0866E
Appellant Respondent
Assessee by : Mr. M.P. Lohia, AR
Revenue by : Mr. V. Vidhyadhar, DR
Date of Hearing : 10/11/2017
Date of pronouncement: 10/11/2017
ORDER
PER N.K. PRADHAN, A.M.
This stay application has been filed by the assessee against the outstanding demand of Rs.55,96,70,310/- for the assessment year 2008-09 with a request to grant stay till the disposal of captioned appeal by the Tribunal. On the other hand, the ld. DR opposes the grant of full stay.
2. We have heard the rival submissions and perused the relevant materials on record. After considering the entire conspectus of facts, we deem it appropriate to grant the stay of remaining demand till the disposal of the appeal or a period of 180 days from the date of this M/s Johnson & Johnson Pvt. Ltd. 2 SA No. 454/Mum/2017 order, whichever is earlier subject to the payment of Rs.7.5 crore (Rs.2.5 crore in three equal instalment between November 2017 to January 2018). The case is fixed for hearing on 10th January 2018 as announced in the open Court. This stay is subject to the condition that the assessee shall file an understanding before the AO to the effect that it shall not alienate any of its immovable properties till the disposal of the present appeal. Further the assessee will not seek adjournment of the case without just cause. In case any of the above conditions are not complied with, the case will be de-listed from the priority list and come up for hearing in the normal course. With these observations and subject to the above terms and conditions, the stay application of the assessee gets disposed off accordingly.
3. In the result, the stay application is allowed in above terms.
Order pronounced in the open court on 10/11/2017.
Sd/- Sd/-
(D.T. GARASIA) (N.K. PRADHAN)
JUDICIAL MEMBER ACCOUNTANT MEMBER
Mumbai;
Dated: 10/11/2017
Rahul Sharma Sr. PS
Copy of the Order forwarded to :
1. The Appellant
2. The Respondent.
3. The CIT(A)-
4. CIT
5. DR, ITAT, Mumbai
6. Guard file.
BY ORDER,
//True Copy//
(Dy./Asstt. Registrar)
ITAT, Mumbai