, "",
IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH `Friday', NEW DELHI
, . . ,
BEFORE MS. SUSHMA CHOWLA, VICE PRESIDENT
&
SHRI R.K. PANDA, ACCOUNTANT MEMBER
./S.A. No.127 /Del/2020
IN
. / ITA No. 300/Del/2020
/ Assessment Year: 2017-18
Harvansh Chawla,
C-17, Nizamuddin East,
Dekhi-110014 ............./Applicant
PAN-ADDPC7559G
vs
ACIT,
Circle-5,
Room No.362, E-2,
ARA Centre, 3rd Floor,
Jhandewalan Extn.
New Delh ............. / Respondent
/ Applicant by: Sh. Rohit Tiwari, Advocate
Sh. Vinay Verma, Advocate
/ Respondent by: Sh. Parikshit Singh, JCIT
/ /
Date of Hearing : 14.02.2020 Date of Pronouncement: 14.02.2020
/ ORDER
PER SUSHMA CHOWLA, VP
The present stay application is moved by the applicant against the
recovery of outstanding demand of Rs.87,21,440/- relating to Assessment
Year 2017-18.
S.A.No.127/Del/2020
2. The Ld. AR for the applicant pointed out that the total balance
addition made in the hands of the applicant is Rs.63,54,632/-, against
which demand created is more than addition made in the hands of the
applicant. It was also pointed out by the Ld. AR for the applicant that only
addition is on account of notional interest on deposit from tenants. He
sought stay of outstanding demand. He further stated that the bank
account of the applicant has been attached.
3. The Ld. DR for the Revenue opposed the stay application moved by
the applicant.
4. On perusal of the stay application and after hearing both the
authorized representatives, the only addition made in the hands of the
applicant is against the notional interest on deposit from tenants. The
demand against the recovery of outstanding demand is Rs.87,21,440/-
which far exceeds the addition made in the hands of the applicant. The Ld.
DR for the Revenue in this regard is directed to rectify the outstanding
demand against the applicant. The applicant is directed to deposit Rs.5
lakhs against the outstanding demand and the recovery of balance demand
is stayed for a period of 180 days or till the disposal of appeal, whichever is
earlier. The Assessing Officer is also directed to release the bank accounts
of the applicant. The appeal is listed for hearing on 24/03/2020 and both
the parties are directed to argue the appeals on the appointed date. No
separate notice shall be issued as date is announced in the open court.
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S.A.No.127/Del/2020
Both the parties are directed not to take frivolous adjournment. Hence, the
stay applications stands allowed.
5. In the result, stay application is allowed.
Order pronounced in the open court on 14th February, 2020.
Sd/- Sd/-
(R.K. Panda) (SUSHMA CHOWLA)
/ACCOUNTANT MEMBER /VICE PRESIDENT
/ Dated : 14th February, 2020.
S. Shekhar, Sr. P.S.
/Copy of the Order is forwarded to :
1. / The Appellant
2. / The Respondent
3. ( ) / The CIT(A)
4. / The Pr. CIT
5. , , / DR, ITAT, Delhi
6. " / Guard file.
/ BY ORDER,
() , ,
Assistant Registrar, ITAT, Delhi
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