Income Tax Appellate Tribunal - Raipur
Mesers Durga Manikanta Traders, Durg vs Income Tax Officer, Ward 1(1), Bhilai on 8 November, 2019
आयकरअपीऱीयअधिकरणन्यायपीठरायपरु में ।
IN THE INCOME TAX APPELLATE TRIBUNAL,
RAIPUR BENCH, RAIPUR
BEFORE SHRI ANIL CHATURVEDI, AM AND
SHRI PARTHA SARATHI CHAUDHURY,JM
Stay Application No.11/RPR/2019
( Arising out of ITA No.59/RPR/2019)
नििाारण वषा / Assessment Year :2014-15
M/s. DurgaManikanta Traders,
Flat No.B-204, Rishabh City Prime,
Rishabh South City, Potiyakal,
Durg (C.G.) - 491001
PAN :AAHFD2524P
.......अऩीऱाथी /Applicant
बिाम / V/s.
Income Tax Officer,
Ward - 1(1), Bhilai (C.G.)
......प्रत्यथी / Respondent
Assessee by :ShriNikhileshBegani
Revenue by :Smt. AnubhaTahGoel
सुनवाई की तारीख / Date of Hearing :08.11.2019
घोषणा की तारीख / Date of Pronouncement :08.11.2019
2
SA No.11 /RPR/2019
A.Y. 2014-15
आदे श / ORDER
PER ANIL CHATURVEDI, AM :
Through the present stay application, the assessee wants us to stay the net outstanding tax demand of Rs.1,45,00,000/- (which includes interest of Rs.30,00,000/- u/s 220(2) of the Income-tax Act, 1961 (hereinafter referred to as 'the Act') for A.Y. 2014-15.
2. The Ld. A.R. further submitted that the assessee is engaged in the business of trading of rice husk and raw materials used by the Bio Mass based power plants. The Assessing Officer made addition by rejecting the books of account, which has been confirmed by the Ld. CIT(A). He further submitted that the assessee has already paid 15% of outstanding demand. He furthersubmitted that the business of the assessee is on the verge of closure and it has been consistently incurring losses. He therefore submitted that the entire outstanding tax demand be stayed. He submitted that on the merits, the assessee has a prima facie strong arguable case. He further submitted that the Bank account of the assessee has also been freezed by the Department.
3. Ld. D.R. on the other hand opposed the Stay Application and submitted that the assessee be asked to deposit atleast 50% of the outstanding demand.
3SA No.11 /RPR/2019
A.Y. 2014-15
4. We have heard the rival submissions and perused the material onrecord. Considering the totality of the facts stated here-in-above, we are of the view that assessee has a prima facie case, balance of convenience andthus it is a fit case for granting stay. We therefore grant stay of the disputed tax demand subject to the following conditions :
a) The assessee is directed to deposit Rs.3.5lacs by 30.11.2019 and Rs.3.5 lacs by 31.12.2019 and produce the challans before the Assessing Officer.
b) That the assessee shall not seek frivolous adjournment. If a Paper Book is desired to be filed by the assessee, then the same should be submitted well in advance as prescribed in ITAT Rules.
d) In case of breach of the above conditions, the stay granted shall automatically get vacated unless directed otherwise by the Bench.
On producing the payment challan for first installment of Rs.3.5 lacs before the Assessing Officer, the Assessing Officer shall defreeze the bank account of the assessee after carrying out necessary verification.
5. Subject to the fulfillment of the above conditions, the balance outstanding demand is stayed for a period of 180 days from the date of this order or till disposal of the appeal, whichever is earlier. 4 SA No.11 /RPR/2019
A.Y. 2014-15
6. In the result, the stay application filed by the assessee is disposed off on the terms indicated in the foregoing paragraphs.
Order pronounced on8thday of November, 2019.
Sd/- Sd/-
PARTHASARATHI CHAUDHURY ANIL CHATURVEDI
JUDICIAL MEMBER ACCOUNTANT MEMBER
रायऩरु / RAIPUR ; ददनाांक / Dated :8thNovember, 2019. GCVSR आदे श की प्रनिलऱपप अग्रेपषि / Copy of the Order forwarded to :
1. अऩीऱाथी / The Appellant.
2. प्रत्यथी / The Respondent.
3. The CIT (Appeals)-II, Raipur (CG)
4. The Pr. CIT-II, Raipur (CG)
5.ववभागीय प्रतततनधध, आयकर अऩीऱीय अधधकरण,रायऩुरबेंच, रायऩुर / DR, ITAT, Raipur Bench, Raipur.
6. गार्ड फ़ाइऱ / Guard File.
आदे शानुसार / BY ORDER, //True Copy// Senior Private Secretary आयकरअपीलीयअधिकरण, रायपु र / ITAT, Raipur. 5 SA No.11 /RPR/2019
A.Y. 2014-15 Date 1 Draft dictated on 08.11.2019 Sr.PS/PS 2 Draft placed before author 08.11.2019 Sr.PS/PS 3 Draft proposed and placed JM/AM before the second Member 4 Draft discussed/approved by AM/JM second Member 5 Approved draft comes to the Sr.PS/PS Sr. PS/PS 6 Kept for pronouncement on Sr.PS/PS 7 Date of uploading of order Sr.PS/PS 8 File sent to Bench Clerk Sr.PS/PS 9 Date on which the file goes to the Head Clerk 10 Date on which file goes to the A.R 11 Date of dispatch of order