Income Tax Appellate Tribunal - Delhi
M/S. Religare Capital Markets Ltd., New ... vs Dcit, New Delhi on 30 July, 2021
IN THE INCOME TAX APPELLATE TRIBUNAL DELHI
BENCH 'FRIDAY, I-2', NEW DELHI
BEFORE SH. ANIL CHATURVEDI, ACCOUNTANT MEMBER
AND SH. KUL BHARAT, JUDICIAL MEMBER
(THROUGH VIDEO CONFERENCING)
SA No. 161/Del/2021
(Arising out of ITA No. 753/Del/2016)
(Assessment Year : 2011-12)
M/s. Religare Capital Vs. DCIT
Markets Ltd., Circle - 21(1),
D-3, P3B, District Centre, New Delhi
Saket, New Delhi - 110017
PAN No. AADCR 5200 R
(APPELLANT) (RESPONDENT)
Assessee by Shri Ajay Vohra, Sr. Adv.
Ms. Saumya Jain, Adv.
Revenue by Shri Gaurav Pundir, Sr. D.R.
Date of hearing: 30/07/2021
Date of Pronouncement: 30/07/2021
ORDER
PER ANIL CHATURVEDI, AM:
Through the present stay application, assessee is seeking extension of stay of tax demand granted on 16.11.2020 in SA No.297/Del/2019.
2. Before us, Learned AR submitted that initially the Hon'ble ITAT vide order dated 02.03.2016 in SA No.111/Del/2016 2 granted stay of outstanding demand for six months or till the disposal of appeal, whichever is earlier, subject to payment of Rs.15 crore, which the assessee has complied with. He submitted that thereafter, the stay has been extended by the Tribunal from time to time (the details of which are listed in the stay petition) and the last extension was granted on 16.11.2020 in SA No.297/Del/2019 whereby the stay was extended up to 15.05.2021. He submitted that due to resurgence of COVID-19 pandemic, the Hon'ble Delhi High Court vide order dated 20.04.2020 in WP(C) 4921/2021 held that in all matters pending before the High Court & Courts subordinate to the High Court, if any interim orders in the nature of stay, bail, parole etc which were subsisting on 19.04.2021, shall stand automatically extended to 16.07.2021 or till further orders. He submitted that since the stay order dated 16.11.2020 was subsisting on 19.04.2021, therefore in view of aforesaid Hon'ble Delhi High Court order, the Stay automatically stood extended to 16.07.2021. He submitted that the assessee is thus now before the Hon'ble Tribunal for extension of stay. He submitted that though the appeal was listed for hearing in the past but the same could not be heard and at no time the non hearing of the appeal was on account of adjournment from the assessee's side. He submitted that the appeal has now been fixed for hearing on 23.08.2021. He therefore submitted that since the delay in disposal of appeal is not attributable to assessee, the stay of tax demand granted on 16.11.2020 be further extended for three months or such period as deemed fit by Tribunal.
33. The Learned DR on the other hand did not controvert the submissions made by Learned AR.
4. We have heard the rival submissions and perused the material on record. In the present case, from the details of the dates of which the appeal were fixed for hearing, as tabulated in the stay petition, it is seen that the hearing of the appeal could not take place though assessee had not sought adjournment. In such a situation, we are of the view that when there was no fault on the part of assessee in the appeal being not disposed off by Tribunal, the assessee deserves an extension of stay. We therefore grant extension of stay of demand of disputed tax granted earlier by order dated 16.11.2020 (SA No.297/Del/2019) for a further period of three months or till the disposal of appeal, whichever is earlier.
5. In the result, the stay application is allowed.
Order pronounced in the open court on 30.07.2021 Sd/- Sd/-
(KUL BHARAT) (ANIL CHATURVEDI)
JUDICIAL MEMBER ACCOUNTANT MEMBER
Date:- 30.07.2021
PY*
Copy forwarded to:
1. Appellant
2. Respondent
3. CIT
4. CIT(Appeals)
5. DR: ITAT
ASSISTANT REGISTRAR
ITAT NEW DELHI