Shri Gyarsi Lal Sharma, Jaipur vs Assessee

1 SA No.03/JP/2015 Shri Gyarsi Lal Sharma vs. ACIT, Central Circle- 1, Jaipur

IN THE INCOME TAX APPELLATE TRIBUNAL JAIPUR BENCH, JAIPUR

(BEFORE SHRI R.P. TOLANI AND SHRI T.R. MEENA)

Stay Application No. 03/JP/2015 (Arising out of ITA No. 759/JP/2014) Assessment year : 2010-11

Shri Gyarsi Lal Sharma vs. The ACIT 40, Near Glass Factory, Pratap Nagar Central Circle- 1 Tonk Road, Jaipur Jaipur (Appellant) (Respondent)

Assessee by : Shri O.P. Agarwal , CA and Shri Manish Agarwal, CA Department by: Shri Kailash Mangar, JCIT

Date of Hearing: 13-02-2015 Date of Pronouncement: 13-02-2015

ORDER PER T.R. Meena, AM

The assessee has filed the above stay application praying therein as

under:-

''The humble applicant prays for stay of the remaining outstanding amount of Rs. 18,09,217/- and the applicant is not in a position to pay any amount being financially hard pressed and crippled. Coercive measures have already been initiated by the Department such as attachment of bank account, notice to debtors etc. and assessee's stay application before the ACIT, Central Circle- 1, Jaipur has been rejected who has granted monthly instalment of Rs. 5.00 lacs for the first month and rest of the demand to be paid in two equal instalments.

2 SA No.03/JP/2015 Shri Gyarsi Lal Sharma vs. ACIT, Central Circle- 1, Jaipur

2.1 During the course of hearing, the ld. AR of the assessee submitted

break up of details of the outstanding amount as under:-

Tax Rs. 13,22,944/- Interest u/s 234A, B & C Rs. 09,86,273/ Rs. 23,09,217/- Amount already paid Rs. 05,00,000/- Amount outstanding Rs. 18,09,217/-

The ld. AR of the assessee submitted that refund amount of Rs. 14,02,460/ is

lying with the Department for the earlier year which can be adjusted against

this demand.

2.2 The ld. DR objected for the stay of the demand and prayed that

amount outstanding against the assessee should be deposited.

2.3 We have heard the rival contentions and perused the materials

available on record. From the record, we find that there is refund of amount

of Rs. 14,02,460/- lying with Department and this amount can be adjusted

against the demand. Thus in view of the above facts and circumstances of

the case, the Bench further directs not to take any coercive action against

assessee. Therefore, we stay the demand till disposal of the appeal or 180

days from the date of order whichever is earlier. The appeal is fixed for

hearing on 08-04-2015. The assessee is also directed to submit the paper

book in advance and give the copy to the Revenue for his arguments. No

adjournment should be asked on frivolous ground. 3 SA No.03/JP/2015

Shri Gyarsi Lal Sharma vs. ACIT, Central Circle- 1, Jaipur

3.0 In the result, the Stay Application of the assessee is allowed as

pronounced in open Court on 13-02-2015.

Sd/- Sd/- (R.P. TOLANI) (T.R. MEENA) JUDICIAL MEMBER ACCOUNTANT MEMBER

Jaipur Dated: 13th FEB 2015 *Mishra Copy forwarded to:- 1. Shri Gyarisi Lal Sharma, Jaipur 2. The ACIT, Central Circle- 1 Jaipur 3. The ld. CIT By Order 4. The ld. CIT(A), Jaipur 5..The ld. DR 6.The Guard File (SA No. 03/JP/2015)

AR ITAT, Jaipur