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« Microsoft India (R & D) Pvt. Ltd. 807, New Delhi House,... | Delphi Automotive Systems (P) Ltd. B-92, Himalaya House, 23... » |
Cinestaan Entertainment P. Ltd., 203, Siddharth Chambers, Near IIT, Hauz Khas, New Delhi -110016 vs. ITO, Ward – 6 (2), New Delhi |
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January, 11th 2019 |
IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH `B', NEW DELHI
BEFORE SH. N. K. BILLAIYA, ACCOUNTANT MEMBER
&
Ms. SUCHITRA KAMBLE, JUDICIAL MEMBER
Stay Application No.5/DEL/2019
(ITA No.8113/Del/2018)
Assessment Year: 2015-16
Cinestaan Entertainment P. ITO, Ward 6 (2), New
Ltd., 203, Siddharth Vs Delhi
Chambers, Near IIT, Hauz
Khas, New Delhi -110016
PAN AAFCC4067R
(APPELLANT) (RESPONDENT)
Appellant by Sh. Pradeep Dinodia, FCA,
Respondent by Sh. V. P. Singh, Sr. DR
Date of hearing: 11/01/2019
Date of Pronouncement: 11/01/2019
ORDER
PER N. K. BILLAIYA, AM:
With this stay petition, the assessee has requested to stay the
demand arising from the assessment order framed u/s 143 (3) of the
Act for A. Y. 2015-16. The assessee prayed for the stay of demand
arising out of the said assessment order.
2
2. Representatives of both the sides were heard. Case records
carefully perused. We find that out of the total demand of Rs. 40.98
crores the assessee has already paid of Rs. 8.19 crores which is about
20% of the total demand. We also find that the bank account
No.7311364982 with Kotak Mahindra Bank has also been freezed.
3. Since the business operation of the assessee has come to a
standstill it would be in the interest of both the sides that the said
bank account be released immediately.
4. On perusal of the underlying facts in the issues we are of the
opinion that the balance of convenience is in favour of the assessee.
In the interest of justice and fair play we direct the assessee to pay a
sum of Rs. 2 crore in installment. The assessee is directed to pay
installment of Rs.50 lacs per month each on or before 31.01.2019,
28.02.2019, 31.03.2019 and 30.04.2019 subject to the payment of
the demand as mentioned here in the balance demand is stayed for a
period of 180 days or till the disposal of the appeal whichever is
earlier.
5. We direct the registry to post the appeal for hearing on
18.03.2019. The assessee is directed to file paper book as per the
rules and shall not take any adjournment without any justifiable
cause otherwise the stay will get vacated.
6. With the above directions the stay petition is allowed.
7. In the result, the stay application filed by the assessee is
allowed.
3
Order pronounced in the open court on 11.01.2019.
Sd/- Sd/-
(SUCHITRA KAMBLE) (N. K. BILLAIYA)
JUDICIAL MEMBER ACCOUNTANT MEMBER
*NEHA*
Date:- .01.2019
Copy forwarded to:
1. Appellant
2. Respondent
3. CIT
4. CIT(Appeals)
5. DR: ITAT
ASSISTANT REGISTRAR
ITAT NEW DELHI
Date of dictation 11.01.2019
Date on which the typed draft is placed
before the dictating Member
Date on which the typed draft is placed
before the Other member
Date on which the approved draft comes to
the Sr.PS/PS
Date on which the fair order is placed before
the Dictating Member for Pronouncement
Date on which the fair order comes back to
the Sr. PS/ PS
Date on which the final order is uploaded 11.01.2019
on the website of ITAT
Date on which the file goes to the Bench
Clerk
Date on which file goes to the Head Clerk.
The date on which file goes to the Assistant
Registrar for signature on the order
Date of dispatch of the Order
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