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Income Tax Appellate Tribunal - Delhi

Fis Global Business Solutions India ... vs Dcit, Circle- 11(1), New Delhi on 29 March, 2019

      IN THE INCOME TAX APPELLATE TRIBUNAL
       DELHI BENCHE 'Friday/I-1', NEW DELHI
          Before Sh. N. S. Saini, Accountant Member
                              And
            Smt. Beena A. Pillai, Judicial Member
                    SA No. 413/Del/2019
      (in ITA No. 422/Del/2019 : Asstt. Year: 2010-11)
FIS Global Business Solutions India       Vs   DCIT,
Pvt. Ltd., 402, I Park, Plot No. 15,           Circle-11(1),
Udyog Vihar, Phase-IV, Gurgaon,                New Delhi-110002
Haryana-122016
(APPELLANT)                                    (RESPONDENT)
PAN No. AAACH2815H

                 Assessee by : Sh. Amit Pahwa, CA &
                               Ms. Divya Singari, CA
                 Revenue by : Ms. Namita S. Pandey, Sr. DR
Date of Hearing :29.03.2019            Date of Pronouncement : 29.03.2019

                                       ORDER

Per N. S. Saini, Accountant Member:

Thi s i s the Stay Peti ti on fil ed by the assessee requesti ng for stay of demand of Rs.8,20,91 ,700/-.

2. The Authori zed Representati ve of the assessee submi tted that after the compl eti on of the assessment and adjustment of advance tax pai d by the assessee, Rs.6,43,95 ,219/- was outstandi ng payabl e by the assessee out of the total tax payabl e on the assessed i ncome of Rs.17,88,50,975/-. It was submi tted by hi m that refund of Rs.5,18,50,340/- due i n the assessment made for the assessment years 2005-06, 2009-10 and 2015-16 was al so adjusted by the Assessi ng Offi cer agai nst the demand of the current year and thereafter th e 2 SA No. 413/Del/2019 FIS Global Business Solutions India Pvt. Ltd.

bal ance tax payabl e was Rs.1 ,25,44,879/-. The Assessi ng Offi cer has al so l evi ed i nterest u/s 234A of the Act of Rs.6,43,952/- and i nterest u/s 234B of the Act of Rs.6,89,02,864/- and thus, the total demand outstandi ng together wi th i nterest worked out to Rs.8,20,91 ,700/-. Hence, it was hi s submi ssi on that out of the total demand of Rs.24,83,97,791/-, Rs.5 ,18,50,34 0/- was al ready pai d by the assessee by way of adjustment of refund due t o the assessee in earli er years whi ch works out to 20.87% of the total demand. He submi tted that the assessee i s willing to make further payment of Rs.70,00 ,000/- on or before 30.03.201 9 and the bal ance demand shoul d be stayed ti ll di sposal of appeal by the Tri bunal .

3. The l d. Departmental Representati ve had no objecti on to the above submi ssi ons of the Authori zed Representati ve of the assessee.

4. In the above background of the ca se, we grant stay of the bal ance demand of Rs.7,50,91,7 00/- to the assessee for a peri od of si x months or till di sposal of the appeal whi chever i s earli er on the usual terms and condi ti ons provi ded that the assessee pays Rs.70,00,000/- on or before 30.03.2019 an d files evi dence for the same to the Assessi ng Offi cer as wel l as to the Tri bunal . The appeal will come up for heari ng on 21.05.2019. Both the parti es are i nformed in Court and therefore, the noti ce of heari ng i s di spensed wi th.

5. Wi th the above di recti ons, the Stay Peti ti on of the assessee i s all owed.

FIS Global Business Solutions India Pvt. Ltd.

6. In the resul t, the Stay Peti ti on of the assessee i s all owed. (Orde r Pronounced i n the Open Court on 29/03/2019) Sd/- Sd/-

 (Beena A. Pillai)                             (N. S. Saini)
 Judicial Member                            Accountant Member
Dated: 29/03/2019
*Subodh*
Copy forwarded to:
1. Appellant
2. Respondent
3. CIT
4. CIT(Appeals)
5. DR: ITAT
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