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M/s. Silveroak Commercials Ltd. 11, Radhamandir Bldg, 213, Sir Balchandra Road Matunga (E) Mumbai 400 019 Vs. ITO WD 9(3)(2) Mumbai
December, 29th 2014
                  IN THE INCOME TAX APPELLATE TRIBUNAL,
                        MUMBAI BENCH "E", MUMBAI
           BEFORE SHRI RAJENDRA, ACCOUNTANT MEMBER AND
                SHRI SANJAY GARG, JUDICIAL MEMBER
                            S.A. No. 354 Mum/2014
                   (Arising Out of ITA No. 5965/Mum/2014)
                           Assessment Year: 2001-02
             M/s. Silveroak Commercials Ltd. 11,      ITO WD
             Radhamandir Bldg, 213, Sir               9(3)(2)
                                                 Vs.
             Balchandra Road Matunga (E)              Mumbai
             Mumbai 400 019
             PAN:AAACS 5536 J
                   (Appellant)                      (Respondent)

                            S.A. No. 355 Mum/2014
                   (Arising Out of ITA No. 5966/Mum/2014)
                           Assessment Year: 2001-02

             M/s. Silveroak Commercials Ltd. 11,      ITO WD
             Radhamandir Bldg, 213, Sir               9(3)(2)
                                                 Vs.
             Balchandra Road Matunga (E)              Mumbai
             Mumbai 400 019
             PAN:AAACS 5536 J
                   (Appellant)                      (Respondent)

                           Assessee by        Dr. P. Daniel & Shri M.P.
                                          :
                                              Makhija
                             Revenue by   :   Shri Asghar Jain
                      Date of hearing  : 26.12.2014
                 Date of Pronouncement : 26.12.2014


                                    ORDER
PER SANJAY GARG, JM:


       The aforesaid two separate applications have been moved by the assessee
seeking stay of outstanding amount of Rs.1,60,79,446/-/- and penalty of
Rs.1,17,93,810/- in respect of A.Y. 2001-02. The Ld. AR of the assessee has
submitted that the recovery of the above amount be stayed whereas the Ld. DR has
submitted that the assessee may be asked to deposit at least 50% of the demand.
At this stage the Ld. AR of the assessee has stressed on his alternative plea of
earlier hearing of the matter.
 




                                                                                             S.A. No. 354 Mum/2014
                                                 2                                            S.A. No. 355 Mum/2014
                                                                                          M/s. Silveroak Commercials Ltd.
                                                                            (Arising Out of ITA No. 5965/Mum/2014)
                                                                            (Arising Out of ITA No. 5966/Mum/2014)
                                                                                           Assessment Year: 2001-02




2.      In view of the submissions of the Ld. AR the plea regarding stay of the
recovery of the demand in question is rejected however, the alternative plea of
earlier hearing is allowed. The matter/corresponding appeal is ordered to be fixed
for hearing on 5th February, 2015. The date of hearing informed in the open court,
no separate notice will be sent to the parties. Copy of this order be placed on appeal
also.
                                                  0









 Order pronounced in the open court on this 26th day of December, 2014.
                 Sd/-                                                      Sd/-
          (RAJENDRA)                                                (SANJAY GARG)
        ACCOUNTANT MEMBER                                          JUDICIAL MEMBER
Mumbai, Dated:    26.12.2014
*Srivastava
Copy to: The   Appellant
         The   Respondent
         The   CIT, Concerned, Mumbai
         The   CIT(A) Concerned, Mumbai
         The   DR "E" Bench
                                          //True Copy//
                                                              By Order

                                                Dy/Asstt. Registrar, ITAT, Mumbai.

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