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Shri Himanshu Goel, E-1/11, 2nd Floor, Vasant Vihar, New Delhi 057. vs The ACIT, Circle-33(1), New Delhi.
November, 02nd 2018
         IN THE INCOME TAX APPELLATE TRIBUNAL
         DELHI BENCHES "FRIDAY BENCH" : DELHI

BEFORE SHRI BHAVNESH SAINI, J.M. AND SHRI L.P. SAHU, A.M.

              Stay Application No.750/Del./2018
                         Arising out of
     ITA.No.6521/Del./2018 - Assessment Year 2015-2016

Shri Himanshu Goel,
E-1/11, 2nd Floor, Vasant     vs. The ACIT, Circle-33(1),
Vihar, New Delhi ­ 057.           New Delhi.
PAN ADWPG2724N
         (Applicant)                     (Respondent)

                For Assessee : Ms. Himani Agarwal, C.A.
                For Revenue : Shri S.L. Anuragi, Sr. D.R.

              Date of Hearing : 02.11.2018
      Date of Pronouncement : 02.11.2018

                            ORDER

PER BHAVNESH SAINI, J.M.

          The Stay Application has been filed by the assessee

seeking stay of the outstanding demand of Rs.11,52,640/- for

the A.Y. 2015-2016.


2.        We have heard the Learned Representatives of both

the parties and perused the material available on record.
                                 2
                                       SA.No.750/Del./2018 Shri Himanshu
                                                         Goel, New Delhi.








3.         The A.O. treated the income from sale of shares of

M/s. Kappac Pharma Ltd ("KPL") should be taxed under the

Head "Income from other sources"         instead of        "Short term

capital gains" declared by the assessee. The return of income

is filed declaring total income of Rs.63,43,750/- and ultimately

even after change of the head of income, the total income

remains the same. According to Learned Counsel for the

Assessee, assessee has already paid 20% of the total demand

of Rs.2,31,000/-.


4.         Considering the facts of the case, we are of the view

that the balance payment of Rs.9,21,640/- shall have to be

stayed till disposal of the appeal. It is a case of change of head

of income only and as such, assessee has a prima facie case

for grant of stay. We, accordingly, stay the balance demand of

Rs.9,21,640/- for a period of six months or the disposal of

appeal whichever expires earlier. Appeal of assessee be fixed

for hearing on 14.01.2019, for which date no separate will be

issued   to   both   the   parties.   Assessee     shall    not    seek
                               3
                                      SA.No.750/Del./2018 Shri Himanshu
                                                        Goel, New Delhi.








unnecessary adjournment in the matter. Stay Application is

allowed. Copy of the Order be provided to both the parties.


5.         In the result, stay application of the assessee is

allowed.


           Order pronounced in the open Court.

     Sd/-                                    Sd/-
    (LP SAHU)                               (BHAVNESH SAINI)
ACCOUNTANT MEMBER                           JUDICIAL MEMBER

Delhi, Dated 02nd November, 2018

VBP/-

Copy to
1.   The appellant
2.   The respondent
3.   CIT(A) concerned
4.   CIT concerned
5.   D.R. ITAT `FRIDAY' Bench, Delhi
6.   Guard File.

                     // BY Order //



           Assistant Registrar : ITAT Delhi Benches :
                          Delhi

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