Income Tax Appellate Tribunal - Mumbai
Rabo India Finance Ltd (Rifl) [Now ... vs Asst Cit 1(3)(1), Mumbai on 13 September, 2019
1 आयकर अपीलीय अिधकरण "जे" ायपीठ मुंबई म ।
IN THE INCOME TAX APPELLATE TRIBUNAL "J" BENCH, MUMBAI माननीय ी महावीर िसं ह, ाियक सद एवं माननीय ी मनोज कुमार अ वाल ,लेखा सद के सम ।
BEFORE HON'BLE SHRI MAHAVIR SINGH, JM AND HON'BLE SHRI MANOJ KUMAR AGGARWAL, AM S.A. No. 358/Mum/2019 [Arising Out of I.T.A. No.2177/Mum/2017] ( नधा रणवष / Assessment Year: 2012-13) Rabo India Finance Limited (RIFL) ACIT-1(3)(1) (Now merged with Rabo India Securities Mumbai.
Pvt. Ltd.) बनाम/
20/F, Tower A, Peninsula Business Park Vs.
Senapati Bapat Marg, Lower Parel
Mumbai-400 013.
थायीले खासं . /जीआइआरसं . /PAN/GIR No. AAACR-6065-R (अपीलाथ /Appellant) : ( यथ / Respondent) अपीलाथ क ओरसे/ Appellant by : Shri Nitesh Joshi, Ld.AR यथ क ओर से/Respondent by : Ms. Kavita P. Kaushik, Ld. DR सनु वाईक तार ख/ : 13/09/2019 Date of Hearing घोषणाक तार ख / : 13/09/2019 Date of Pronouncement आदे श / O R D E R Manoj Kumar Aggarwal (Accountant Member): -
1. By way of this Stay Application for Assessment Year [AY] 2012-13, the assessee seeks extension of stay of outstanding demand of Rs.13.68 Crores. The last of such extension was granted by the Tribunal vide SA 2 No.120/Mum/2019 order dated 08/03/2019 for a period of earlier of six months or till the disposal of the appeal. Accordingly, the stay has already expired.
2. The Ld. Authorised Representative for Assessee [AR] submitted that, subsequent to grant of stay, the quantum appeal came up for hearing on various occasions, as per the following details: -
Date of hearing Remarks 18 March 2019 On 18 March 2019, the appeal under consideration was not classified as a stay granted appeal and accordingly was listed from serial no 18 to 23 in the cause list. During the course of the hearing on that day, the Bench started with other matters listed prior to the appeal under consideration. In the meanwhile, the Senior Counsel briefed on the matter, got held up in another court room. Hence, the case was adjourned to 2 May 2019.
2 May 2019 The Senior Counsel briefed on the matter was unwell and unable to appear before the ITAT.
Hence, the case was adjourned to 7 May 2019.
7 May 2019 The Senior Counsel briefed on the matter had a matter in another court room. Hence, the case was adjourned to 23 May 2019.
23 May 201 9 The 'J' Bench was not functioning. Accordingly, the matter was auto-adjourned to 11 June 2019 11 June 2019 Adjournment sought by the Department Representative (DR). Hence, the case was adjourned to 25 July 2019.
25 July 2019 Adjournment sought by the Department Representative (DR). Hence, the case was adjourned to 19 August 2019.
19 August 2019 Adjournment sought by the Department Representative (DR). Hence, the case was adjourned to 7 November 2019 The Ld. AR briefly explained the nature of additions which has given rise to the impugned demand against the assessee. Our attention is also drawn to the fact that the assessee has already discharged approximately 50% of the outstanding demand. The quantum appeal is stated to be listed for hearing on 07/11/2019. The Ld. AR further submitted that the assessee has complied with stay conditions imposed in earlier stay orders and therefore, 3 the assessee deserve extension of stay. The Ld. DR, on the other hand, opposed the extension of stay.
3. After due consideration, the bench formed an opinion that on the stated facts and circumstances, the assessee deserve extension of stay. Accordingly, the stay is further extended for a period of 180 days or till the disposal of appeal, whichever is earlier. The conditions imposed in earlier stay orders including directions for expeditious disposal of appeal, shall remain intact.
4. The stay application stands allowed in terms of our above order.
Order pronounced in the open court on 13th September, 2019.
Sd/- Sd/-
(Mahavir Singh) (Manoj Kumar Aggarwal)
ाियक सद / Judicial Member लेखा सद / Accountant Member
मुंबई Mumbai; िदनां कDated : 13/09/2019 Sr.PS:-Jaisy Varghese आदे श की ितिलिप अ े िषत/Copy of the Order forwarded to :
1. अपीलाथ / The Appellant
2. !"थ / The Respondent
3. आयकरआयु$(अपील) / The CIT(A)
4. आयकरआयु$/ CIT- concerned
5. िवभागीय!ितिनिध, आयकरअपीलीयअिधकरण, मुंबई/ DR, ITAT, Mumbai
6. गाड+ फाईल / Guard File आदे शानुसार/ BY ORDER, उप/सहायकपंजीकार (Dy./Asstt.Registrar) आयकरअपीलीयअिधकरण, मुंबई / ITAT, Mumbai.