Income Tax Appellate Tribunal - Indore
Shri Girish Kumar Tayal, Indore vs The Dcit 5(1), Indore on 12 November, 2018
Girish Kumar Tayal
SA No.59/Ind/2018
IN THE INCOME TAX APPELLATE TRIBUNAL,
INDORE BENCH, INDORE
BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER
AND
SHRI MANISH BORAD, ACCOUNTANT MEMBER
S.A. No. 59/Ind/2018
Arising out of I.T.A. No. 397/Ind/2018
Assessment Year: 2011-12
Shri Girish Kumar Tayal :: Applicant
Prop. M/s Pradeep Cotx
Industries,
4, Maa Durga Nagar,
Indore.
vs.
Deputy Commissioner of :: Respondent
Income -tax,
5(1),
Indore.
PAN: AATPT3581G
Applicant by : Shri Gagan Tiwari, Adv .
Respondent by : Shri R.P. Mourya,Sr.DR
Date of hearing 12.11.2018
Date of pronouncement : 12.11.2018
ORDER
PER MANISH BORAD, A.M.
This application is filed by the assessee seeking stay of the demand of Rs. 21,64,648/- on account of penalty levied u/s 271AAB of the Income-tax Act, 1961.
1 Girish Kumar Tayal SA No.59/Ind/2018
2.. Ld. Counsel for the assessee submitted that the assessee as per orders of Hon'ble Tribunal vide order No.SA 11/Ind/2018 dated 19.03.2018 has granted stay of demand for 6 months or disposal of appeal whichever is earlier subject to payment of Rs.5,00,000/- within a week. Accordingly the assessee had paid a sum of Rs.5,00,000/- on 21.03.2008. Ld. Counsel for the assessee further submitted that the matter was fixed for hearing on 10.10.2018 and was adjourned to 21.01.2019 on the request of revenue. The assessee has now sought extension of the above stay demand till the disposal of case by the Tribunal.
3. On the other hand, the Ld. Departmental Representative opposed the request but could not controvert the above submission.
4. We have heard the rival contentions and perused the records placed before us. We find that the present stay application is for the extension of the stay already granted by us vide order dated 19.03.2018. Considering the rival submissions, we are of the considered view that the present stay applications deserves to be allowed. We therefore grant a further stay of 90 days from the date 2 Girish Kumar Tayal SA No.59/Ind/2018 of this order or before the disposal of appeal whichever event occurs earlier.
5. The stay application is disposed off accordingly subject to conditions herein above.
Order was pronounced in the open court on 12.11.2018 Sd/- Sd/-
(KUL BHARAT) (MANISH BORAD)
JUDICIAL MEMBER ACCOUNTANT MEMBER
Indore: 12 November, 2018
/Dev
Copy to: Assessee/AO/Pr. CIT/ CIT (A)/ITAT (DR)/Guard file.
By order Asstt.Registrar, I.T.A.T., Indore 3