Shree Ram Corporation,, Ahmedabad vs Assessee
- CitationITA No.726/Ahd/2015)
Ratio decidendi
The rule this decision rests on
The Tribunal, while staying recovery of a disputed penalty demand pending appeal, directed the assessee to pay a specified part of the demand and stayed the balance on condition of that payment, for a fixed period of 180 days or until disposal of the appeal, whichever is earlier, and fixed the appeal for early hearing. The reasoning given is that the stay is granted after weighing the facts of the case and the submissions of both sides, and is conditioned on partial payment of the demand.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
आयकर अपीलीय अिधकरण, अिधकरण, अहमदाबाद यायपीठ 'ए' अहमदाबाद। IN THE INCOME TAX APPELLATE TRIBUNAL "A" BENCH, AHMEDABAD BEFORE SHRI G.D. AGRAWAL, VICE PRESIDENT AND SHRI KUL BHARAT, JUDICIAL MEMBER Stay Application No. 39/Ahd/2015 (in ITA No.726/Ahd/2015) Assessment Year : 2011-12 Shree Ram Corporation, V/s. The DCIT, 522/1/1, Shreeram Residency, Central Circle-2(1) Opp. Central Warehouse, NH Ahmedabad No.8, Narol, Ahmedabad PAN No. ABRFS 1955 L (Applicant) .. (Respondent) Assessee(s) by : Shri S.N. Soparkar, AR Revenue by : Shri Nimesh Yadav, Sr. DR.
सुनवाई क तार ख/ / Date of Hearing : 17/04/2015 घोषणा क तार ख /Date of Pronouncement : 17/04/2015
आदे श/O R D E R
PER G.D. AGRAWAL, VICE PRESIDENT:
By this stay petition, the assessee has sought for the stay of demand of tax of Rs.58,60,000/-.
2. At the time of hearing before us, it is submitted by the ld. Counsel that the Revenue raised the demand of tax of Rs.77,25,000/- by levying penalty u/s 271(1)(c). The assessee has already paid Rs.18,65,000/-. He submitted that in this case returned income has been accepted and therefore, the levy of penalty is absolutely illegal and uncalled for. He said that he is prepared to argue the appeal today itself. However, ld. Departmental Representative submitted that the Revenue would require sometime to argue the appeal; therefore, the appeal may be fixed for hearing in the next week or a week thereafter. He also requested that the assessee should be directed to make some part payment atleast.
SP No 39/Ahd 2015 In ITA No. 726/Ahd/2015 Shree Ram Corporation - AY 2011-12
-2-
3. After considering the facts of the case and arguments of both the sides, we order that the assessee will make payment of Rs. 5 lacs on or before 28th April 2015. Subject to above, the balance demand of tax is stayed till the disposal of the appeal or for the period of 180 days, whichever is earlier. The hearing of the appeal is directed to be fixed out of turn on 29th April 2015. Both the parties have been informed about the date of hearing in the open court.
4. In the result, the Stay Petition is disposed of as above.
Order pronounced in the Court on 17th April, 2015 at Ahmedabad.
Sd/- Sd/-
(KUL BHARAT) (G.D. AGRAWAL) JUDICIAL MEMBER VICE-PRESIDENT Ahmedabad; Dated 17/04/2015 Biju T., PS
आदे श क ूितिल'प अमे'षत/Copy षत of the Order forwarded to : 1. अपीलाथ* / The Appellant 2. ू+यथ* / The Respondent.
3. संबंिधत आयकर आयु- / Concerned CIT
4. आयकर आयु-(अपील) / The CIT(A)
5. 'वभागीय ूितिनिध, आयकर अपीलीय अिधकरण, अहमदाबाद / DR, ITAT, Ahmedabad
6. गाड3 फाईल / Guard file.
आदे शानुसार/ ार BY ORDER,
TRUE COPY उप/ उप/सहायक पंजीकार (Dy./Asstt.Registrar) आयकर अपीलीय अिधकरण, अिधकरण, अहमदाबाद / ITAT, Ahmedabad
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