IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “FRIDAY/I-2” BENCH: NEW DELHI
(THROUGH VIDEO CONFERENCING)
BEFORE SHRI. ANIL CHATURVEDI, ACCOUNTANT MEMBER & SHRI KUL BHARAT, JUDICIAL MEMBER
S.A.No.-159/Del/2021 [In ITA No.869/Del/2021] [Assessment Year : 2016-17]
Baxter India Pvt.Ltd., vs ITO,
5th Floor, Tower-A, Bldg.9, DLF Ward-4(1),
Cyber City, DLF Phase-II, New Delhi.
Gurgaon, Haryana-122002.
PAN-AAACB3906F
APPELLANT RESPONDENT
Appellant by Sh. Vishal Kalra, Adv. & Respondent by Sh. S.S.Tomer, Adv. Sh. O.M.Prakash, Sr.DR
Date of Hearing 29.10.2021
Date of Pronouncement 29.10.2021
ORDER
PER KUL BHARAT, JM :
Through the present stay application, assessee is seeking stay of outstanding tax demand of Rs.75.27 crores relating to Assessment Year 2016-17.
2. On the last date of hearing, it was contended that a rectification application is pending before the Revenue authorities. Today, it is informed that the requisite rectification has been carried out by the Revenue and the demand is reduced to Rs.50.5 crores. Ld. Counsel for the assessee further submitted that the refunds of the earlier years are yet to be refunded to the assessee. Therefore, he contended that out of outstanding disputed S.A.No.-159/Del/2021 [In ITA No.869/Del/2021]
demand of Rs.50.5 crores, 20% of the disputed demand be adjusted against the old refunds due to the assessee. Ld. Counsel for the assessee submitted that the issues in dispute are covered in favour of the assessee in this appeal and the assessee has a very strong case and every likelihood of success.
3. Ld. Sr. DR opposed these submissions and submitted that the assessee be directed to deposit the entire outstanding demand.
4. We have heard the rival contentions and perused the material available on record. The Revenue has not disputed about the outstanding refund due to the assessee. Ld. Sr. DR stated that he would verify the exact figure of the outstanding refunds due to the assessee. After considering the totality of the fact and in the interest of justice, we deem it proper to grant stay of the outstanding demand for a period of 90 days from the date of receipt of the order subject to the following conditions:-
(a) that the assessee would deposit 5% of the outstanding disputed demand on or before before 15.12.2021; and
(b) that the Revenue may adjust 15% of the outstanding disputed demand out of the refunds due to the assessee.
5. Meanwhile, the Registry is directed to fix the appeal for hearing on 23.12.2021. The stay application is disposed in the terms stated above.
2|Page S.A.No.-159/Del/2021 [In ITA No.869/Del/2021]
6. In the result, the stay application filed by the assessee is allowed.
Above decision was pronounced on conclusion of Virtual Hearing in the presence of both the parties on 29th October, 2021.
Sd/- Sd/- (KUL BHARAT) (ANIL CHATURVEDI) JUDICIAL MEMBER ACCOUNTANT MEMBER ASSISTANT REGISTRAR * Amit Kumar * ITAT, NEW DELHI
Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT
3|Page
|