Income Tax Appellate Tribunal - Delhi
Showa Corporation, Gurgaon vs Dcit (International Taxation), ... on 2 February, 2018
IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH 'FRIDAY' NEW DELHI
BEFORE SH.R.S.SYAL, VICE PRESIDENT
AND
SMT. BEENA A. PILLAI, JUDICIAL MEMBER
S.A.No. 50 & 51/Del//2018
(In ITA No.1578 & 6754/Del/2017)
(ASSESSMENT YEAR: 2012-13 & 2013-14)
Showa Corporation, vs DCIT
C/o-Shigeki Kobayashi, (International Taxation),
9-11, Maruti Industrial Area, Circle-Gurgaon,
Gurgaon. Gurgaon.
(Appellant) (Respondent)
Appellant by Sh. Piyush Kaushik, Adv.
Respondent by Sh. Rajesh Kumar, Sr. DR
Date of Hearing 02.02.2018
Date of Pronouncement 02.02.2018
ORDER
PER R.S. SYAL, VICE PRESIDENT By means of the present stay applications, the assessee requires the Tribunal to stay demand of Rs.23,72,42,409/- for the A.Y. 2012-13 and Rs.13,41,36,835/- for the A.Y. 2012-13 till the disposal of the captioned appeals by the Tribunal.
2. We have heard both the sides and perused the relevant material on record. The ld. AR argued that the assessee has a S.A.No.-50 & 51/Del//2018 (In ITA No.1578 & 6754/Del/2017) prima facie good case before the tribunal. On the other hand, the ld. DR opposed the stay applications.
3. Considering the totality of facts and circumstances of the instant case, we are inclined to grant stay for a period of six months or till the disposal of appeal, whichever is earlier, subject to the assessee depositing 10% of the total outstanding demand for both the years under consideration on or before 09.02.2018. The Tribunal in assessee's own case for the A.Y. 2010-11 has also passed stay order requiring deposit of 10% of the outstanding demand. A copy of such order dated 11.3.2016 has been placed on record. Acceding to the request of the assessee, an early hearing is also granted in the matter. The Registry is directed to fix the appeals for hearing on 26th March, 2018. Pursuant to the ld. AR agreeing to the above arrangement for payment, an announcement to this effect was made in the open Court on the conclusion of hearing.
4. However, this accommodation is subject to furnishing of an undertaking to the satisfaction of the Assessing Officer to the effect that assessee will not alienate or dispose of any of its Page | 2 S.A.No.-50 & 51/Del//2018 (In ITA No.1578 & 6754/Del/2017) immovable properties till the final disposal of the present appeal. The assessee shall also not be entitled to seek any adjournment without just cause. In case any of the terms and conditions is/are violated, the stay herein granted shall be vacated and appeals shall revert to their original position to be fixed in a routine manner. With these observations and subject to the above terms and conditions, the stay applications of the assessee get disposed off accordingly.
5. In the result, the stay applications are allowed in above terms.
The order is pronounced in the open court on 02nd February, 2018.
(BEENA A. PILLAI) (R.S.SYAL)
JUDICIAL MEMBER VICE PRESIDENT
*Amit Kumar*
Date:- 02.02.2018
Page | 3
S.A.No.-50 & 51/Del//2018
(In ITA No.1578 & 6754/Del/2017) Copy forwarded to:
1. Appellant
2. Respondent
3. CIT
4. CIT(Appeals)
5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI Date
1. Draft dictated on 02.02.2018 PS
2. Draft placed before author 02.02.2018 PS
3. Draft proposed & placed before the second member JM/AM
4. Draft discussed/approved by Second Member. JM/AM
5. Approved Draft comes to the Sr.PS/PS PS/PS
6. Kept for pronouncement on .02.2018 PS
7. File sent to the Bench Clerk .02.2018 PS
8. Date on which file goes to the AR
9. Date on which file goes to the Head Clerk.
10. Date of dispatch of Order.
* Page | 4