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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