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Income Tax Appellate Tribunal - Kolkata

Dongfang Electric Corporation, ... vs Acit (International Taxation), Circle ... on 1 March, 2019

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                                                                                  SA Nos.25 & 26/Kol/2019
                                                             Dongfang Electric Corporation, AYs- 2007-08


                 आयकर अपील य अधीकरण,  यायपीठ - "C" कोलकाता,
       IN THE INCOME TAX APPELLATE TRIBUNAL "C" BENCH: KOLKATA
       (सम )  ी ऐ. ट . वक ,  यायीक सद य एवं डॉ. अजन
                                                  ु$ लाल सैनी, लेखा सद य)
                 [Before Shri A. T. Varkey, JM & Dr. A. L. Saini, AM]

                              S.A. Nos.25 & 26/Kol/2019
                         In I.T.A. Nos. 2563 & 2564/Kol/2017
                         Assessment Years: 2007-08 & 2008-09

Dongfang Electric Corporation             Vs.    Assistant Commissioner of Income-tax,
(PAN: AACCD0559L)                                (International Taxation) Circle-1(1),
                                                 Kolkata
Applicant                                        Respondent


       Date of Hearing                01.03.2019
       Date of Pronouncement          01.03.2019
       For the Applicant              Shri Nageswar Rao, AR
       For the Respondent             Shri Sankar Halder, JCIT, Sr. DR

                                  ORDER
Per Dr. A. L. Saini, AM

By way of these two stay applications, the assessee seeks stay on collection of disputed demand of Income tax, which arose out of separate orders of Ld. DRP-2, Kolkata dated 06.09.2017 for assessment years 2007-08 and 2008-09.

2. By preferring these stay applications, the assessee has brought to our notice that assessee company had paid 40% of the total demand of Rs.7,23,34,563/- for AY 2007-08 and paid 10% of the total demand of Rs.12,72,75,430/- for AY 2008-09. The Ld. AR of the assessee also submitted that the assessee has a prima facie case and balance of convenience is in assessee's favour and any coercive steps will put the assessee in great hardship. Therefore, the Ld. AR of the assessee prays for stay of the balance amount of demand for the aforesaid two assessment years. Per contra, the Ld. DR for the Revenue vehemently opposed any blanket stay to be granted in favour of the assessee.

SA Nos.25 & 26/Kol/2019 Dongfang Electric Corporation, AYs- 2007-08

3. We have heard both the parties and carefully gone through the facts and circumstances of the case. After hearing the Ld. AR, we reject the prayer of the assessee for granting stay of the outstanding demand but we are of the considered opinion that an early hearing in this matter may be granted. Registry is directed to fix the appeal out of turn on 14.03.2019. We order accordingly. No notice is required to be served to either of the parties as the date is pronounced in the open court.

4. In the result, both the Stay Applications of assessee are dismissed and early hearing is granted.

Order is pronounced in the open court.

       Sd/-                                                             Sd/-
(Aby. T. Varkey)                                                 (Dr. A. L. Saini)
Judicial Member                                                  Accountant Member

                            Dated : 1st March, 2019

Jd.(Sr.P.S.)

Copy of the order forwarded to:

1. Applicant - Dongfang Electric Corporation, Kolkata Project Office, CK-

189, Sector-II, Saltlake City, Kolkata-700 091.

2 Respondent - ACIT(International Taxation), Circle-1(1), Kolkata.

3. CIT(A)-, Kolkata.(sent through e-mail)

4. CIT, Kolkata.

5. DR, ITAT, Kolkata. (sent through e-mail) /True Copy, By order, Assistant Registrar