Income Tax Appellate Tribunal - Delhi
Neeraj Singal, New Delhi vs Acit, Central Circle- 3, New Delhi on 12 April, 2018
IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH: 'G' NEW DELHI
Before Sh. N. K. Saini, AM And Sh. K. N. Chary, JM
S. A. Nos. 267 to 272/Del/2018
(In ITA Nos. 1485 to 1490/Del/2018 Asst. Years: 2010-11 to 2015-16)
Sri Neeraj Singal, Vs ACIT,
W-29, Greater Kailash, Part-II, Central Circle-3,
New Delhi-110048 New Delhi
(APPELLANT) (RESPONDENT)
PAN No. ANRPS7986B
S. A. Nos. 273 to 278/Del/2018
(In ITA Nos. 1476 to 1481/Del/2018 Asst. Years: 2010-11 to 2015-16)
Smt. Ritu Singal, Vs ACIT,
W-29, Greater Kailash, Part-II, Central Circle-3,
New Delhi-110048 New Delhi
(APPELLANT) (RESPONDENT)
PAN No. ABHPS3711N
S. A. Nos. 279 to 284/Del/2018
(In ITA Nos. 1412 to 1417/Del/2018 Asst. Years: 2010-11 to 2015-16)
Sri Brij Bhushan Singal, Vs ACIT,
W-29, Greater Kailash, Part-II, Central Circle-3,
New Delhi-110048 New Delhi
(APPELLANT) (RESPONDENT)
PAN No. AEFPS6298M
S. A. No. 285/Del/2018
(In ITA No. 1482/Del/2018 Asst. Year: 2010-11)
S. A. No. 286/Del/2018
(In ITA No. 1483/Del/2018 Asst. Year: 2013-14)
S. A. No. 287/Del/2018
(In ITA No. 1484/Del/2018 Asst. Year: 2014-15)
Smt. Uma Singal, Vs ACIT,
W-29, Greater Kailash, Part-II, Central Circle-3,
New Delhi-110048 New Delhi
(APPELLANT) (RESPONDENT)
PAN No. ANRPS7987A
2 S. A. Nos. 267 to 287/Del/2018
Neeraj, Ritu, Brij Bhushan, & Uma Singal
Assessee by : Sh. S. K. Tulsiyan, Adv.,
Sh. Ashwani Kumar, CA ,
Ms. Abha Agarwal, FCA &
Ms. Bhoomija Verma, Adv.
Revenue by : Sh. Kaushlendra Tiwari, Sr. DR
Date of Hearing : 12.04.2018 Date of Pronouncement: 12.04.2018
ORDER
Per Bench:
These Stay Applications have been moved by the assessees for the outstanding demand as per following details:
Sl. Name of the Party A.Ys. Outstanding demand No. (Rs.)
1. Sh. Neeraj Singal 2010-11 to 2015-16 75,55,42,582
2. Sh. Brij Bhushan Singal 2010-11 to 2015-16 66,06,03,933
3. Smt. Ritu Singal 2010-11 to 2015-16 72,29,94,766
4. Smt. Uma Singal 2010-11, 2013-14 & 7,29,33,741 2014-15
2. During the course of hearing, the ld. Counsel for the assessee reiterated the contents of the Stay Applications and submitted that the main additions in all the cases were made on account of alleged bogus long term capital gain and commission @ 6% thereon. However, no incriminating material was found during the course of search at the premises of the assessee, therefore, no addition was called for. It was submitted that the assessees have prima facie an arguable case in their favour. The reliance was placed on the following case laws:
Ø CIT(C)-III Vs Kabul Chawla (2016) 380 ITR 573 (Del.) Ø CIT, Central-2, Ne w Delhi Vs Meeta Gutgutia (2017) Taxmann.com 287 (Del.)
3. It was further sub mitted that as per the Circular/instructions of the CBDT, the ld. CIT ought to have 3 S. A. Nos. 267 to 287/Del/2018 Neeraj, Ritu, Brij Bhushan, & Uma Singal given the stay of the outstanding demand if the assessee deposited 20% of the outstanding demand. The ld. Counsel for the assessee sub mitted that the assessees had already paid more than 20% of the outstanding de mand despite of extre me financial crunches. It was also sub mitted that the assessee Smt. Uma Singal who had already paid more than 20% of the outstanding demand is not having any source for making further payment. It was requested that the stay of the outstanding demand may be granted. In support of the above contention, the ld. Counsel for the assessee furnished the details in respect of all the assessees which read as under:
NEERAJ SINGAL A.Y.s 2010-11 to 2015-16 ASSESSMENT YEARS 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 TOTAL
(a) Tax as per 3340208 207913408 104155721 81771528 452599441 145100411 99,48,80,717 notice u/s 156 r.w.s 154 /153A
(b) Tax 1561660 Appeal Appeal Appeal Appeal 162555810 outstanding after effect not effect not effect not effect not appeal effect passed passed passed passed
(c) Tax already paid (Ref: 2490598 47132838 20002225 2874263 159444000 24000000 25,59,43,924 Annexure B9)
(d) Amount outstanding [(a-c) where Nil 160780570 84153496 78897265 293155441 138555810 75,55,42,582 appeal effect not (b-c) (a-c) (a-c) (a-c) (a-c) (b-c) passed & (b-c) where appeal effect passed] 4 S. A. Nos. 267 to 287/Del/2018 Neeraj, Ritu, Brij Bhushan, & Uma Singal BRIJ BHUSHAN SINGAL A.YS 2010-11 TO 2015-16 ASSESSMENT YEARS 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 TOTAL
(e) Tax as per 5597045 242712996 96389238 56884584 309543906 106149988 817277757 notice u/s 156 r.w.s 154/153A
(f) Tax 1632679 Appeal Appeal Appeal Appeal 118033565 outstanding after effect not effect not effect not effect not appeal effect passed passed passed passed
(g) Tax already 2202502 43595356 20000000 10000000 64552500 24812500 165162858 paid (Ref:Annexure B9)
(h) Amount outstanding [(a-c) Nil 199117640 76389238 46884584 244991406 93221065 660603933 where (b-c) (a-c) (a-c) (a-c) (a-c) (b-c) appeal effect not passed & (b-c) where appeal effect passed] RITU SINGAL A.Ys. 2010-11 TO 2015-16 ASSESSMENT YEARS 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 TOTAL
(i) Tax as per 1446677 228311305 89166931 71167403 359447050 125096646 874636012 notice u/s 156 r.w.s 154/153A
(j) Tax Appeal Appeal Appeal Appeal Appeal 149721998 outstanding after effect not effect not effect not effect not effect not appeal effect passed passed passed passed passed
(k) Tax already Nil 53034598 12500000 9300000 82432000 19000000 176266598 paid (Anncxurc B9)
(l) Amount 1446677 175276707 76666931 61867403 277015050 130721998 722994766 outstanding [(a-c) (a-c) (a-c) (a-c) (a-c) (a-c) (b-c) where appeal effect not passed & (b-c) where appeal effect passed] 5 S. A. Nos. 267 to 287/Del/2018 Neeraj, Ritu, Brij Bhushan, & Uma Singal UMA SINGAL A.Ys 2010-11, 2013-14 & 2014-15 ASSESSMENT YEARS 2010-11 2013-14 2014-15 TOTAL
(m) Tax as per 8,86,741 1,36,39,894 7,72,07,859 9,17,34,494 notice u/s 156 r.w.s 154/153A (n)
(n) Tax outstanding Appeal effect not Appeal effect not Appeal effect not after appeal effect passed passed passed
(o) Tax already NIL 24,07,528 1,63,93,225 1,88,00,753 paid (Ref: Annexure B9)
(p) Amount 8,86,741 1,12,32,366 6,08,14,634 7,29,33,741 outstanding
4. In his rival submissions, the ld. Sr. DR opposed the stay of the outstanding demand and submitted that if the stay is to be granted than the assessee should be directed to pay at least 50% of the demand.
5. We have considered the submissions of both the parties and perused the material available on the record. In the instant case, it is an admitted fact that the assessee has already paid more than 20% of the outstanding demand i.e. Rs.61.61 Crores out of the total outstanding demand of Rs.277.85 Crores which is evident from the aforesaid chart furnished by the assessees. In our opinion, the assessees have prima facie an arguable case, so, it is a fit case where the stay of the outstanding demands may be granted on certain terms and conditions. We, therefore, direct the assessees to make further payment of Rs.18 Crores i.e. Rs.6 Crores by each of the assessees except Smt. Uma Singal, in three equal installments of Rs.2 Crores each to be paid on or before 30.04.2018, 31.05.2018 and 30.06.2018. The remaining outstanding demands are stayed for 180 days or till the disposal of the appeals whichever is earlier. The Registry is directed to fix the appeals of the assessees on 24.07.2018. In case, the assessees seek any adjournment or do not comply 6 S. A. Nos. 267 to 287/Del/2018 Neeraj, Ritu, Brij Bhushan, & Uma Singal with the aforesaid directions then the stay shall be automatically vacated. The AO is directed not to take any coercive step for recovery of the outstanding demand and if any coercive step has already been taken that should be withdrawn.
6. In the result, the Stay Applications of the assessees are allowed. (Order Pronounced in the open Court on 12/04/2018) Sd/- Sd/-
(K. N. Chary) (N. K. Saini)
JUDICIAL MEMBER ACCOUNTANT MEMBER
Dated: 12/04/2018
*Subodh*
Copy forwarded to:
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2. Respondent
3. CIT
4. CIT(Appeals)
5.DR: ITAT
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