Income Tax Appellate Tribunal - Mumbai
Red Hat India P.Ltd, vs Dcit 15(3)(1), on 10 March, 2017
आयकर अपीलीय अिधकरण, अिधकरण मुंबई "के के " खंडपीठ Income-tax Appellate Tribunal "K"Bench Mumbai सव ी राजे , लेखा सद य एवं पवन सह, सह याियक सद य Before S/Sh. Rajendra,Accountant Member & Pawan Singh, Judicial Member (रोक आवेदन/S.A. No.140/Mum/2017-Arising out of ITA 1456/Mum/2017-Assessment Year 2012-13) Red Hat India Private Limited DCIT, -15(3)(1) A-201, Supreme Business park Mumbai.
Supreme City, Hiranandani Gardens Vs.
Powai, Mumbai-400 076.
PAN:AABCR 7097 N
(आवेदक /Applicant) ( यथ / Respondent)
Revenue by: Shri Suman Kumar -DR
Assessee by: S/Shri P. Lohia and
Nikhil Tiwari-AR
सुनवाई क तारीख / Date of Hearing: 10.03.2017 घोषणा क तारीख / Date of Pronouncement: 10.03.2017 आयकर अिधिनयम,1961 अिधिनयम क धारा 254(1)के के अ तग त आदे श Order u/s.254(1)of the Income-tax Act,1961(Act) लेखा सद य राजे के अनुसार PER RAJENDRA, AM-
Vide its application dated 03.03.2017 the assessee has requested to stay a recovery of demand of Rs.23.crores (tax Rs.13.82crores + interest Rs.10.02crores).In its application,the assessee has mentioned that a demand has arisen mainly because of the addition made by Assessing Officer (AO) of Rs.30.28 crores under the head unearned revenue, that the AO had taxed the income of subsequent years in the current year and had not allowed corresponding expenses, that the balance of convenience was in favour of the assessee.The application is accompanied by an affidavit of the director of the assessee company.
2.During the course of hearing before us the Authorised Representative (AR) reiterated the arguments which are part of the stay application and the affidavit.The Departmental Representative(DR) stated that the assessee should be directed to pay at least 50% of the demand.
3.We have heard the rival submissions and perused the material before us. It is found that the AO while completing the assessment u/s. 143(3)the AO has taxed the income for seven years. The main dispute is as to whether 1/7th of the income or the whole income is to be assessed for the year under appeal.Considering the peculiar facts and circumstances,we are of the opinion that it is a fit case of staying the demand. The assessee is directed to make a payment SA/140/M/17 Red Hat India Pvt.Ltd.
of Rs.3.00 crores on or before 31.3.2017. The stay will continue for a period of six months or till the disposal of the appeal,whichever is earlier.The Registry is directed to put up the matter before regular Bench on 21.6.2017 .As the next date of hearing was pronounced in open Court,so no notice of hearing will be issued separately.
As a result, stay application filed by the assessee stands allowed. फलतः िनधा रती ारा मांग थगन के िलए दािखल क गई अज मंजूर क जाती है.
Order pronounced in the open court on 10th March, 2017. आदेश क घोषणा खुले यायालय म दनांक 10 माच , 2017 को क गई ।
Sd/- Sd/-
( पवन सह /Pawan Singh) (राजे / RAJENDRA)
याियक सद य / JUDICIAL MEMBER लेखा सद य / ACCOUNTANT MEMBER
मुंबई Mumbai; दनांक/Dated : 10.03.2017.
Jv.Sr.PS. आदेश क ितिलिप अ िे षत/Copy of the Order forwarded to :
1.Appellant /अपीलाथ 2. Respondent / यथ
3.The concerned CIT(A)/संब! अपीलीय आयकर आयु$, 4.The concerned CIT /संब! आयकर आयु$
5.DR " K " Bench, ITAT, Mumbai /िवभागीय ितिनिध, खंडपीठ,आ.अिध.मुंबई
6.Guard File/गाड फाईल स यािपत ित //True Copy// आदेशानुसार/ BY ORDER, उप/सहायक पंजीकार Dy./Asst. Registrar आयकर अपीलीय अिधकरण, मुंबई /ITAT, Mumbai.2