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 Attachment on Cash Credit of Assessee under GST Act: Delhi HC directs Bank to Comply Instructions to Vacate
 Income Tax Addition Made Towards Unsubstantiated Share Capital Is Eligible For Section 80-IC Deduction: Delhi High Court

M/s CA (India) Technologies Private Limited,Plot No. C-62, G block, Bandra Kurla Complex, Bandra (E), Mumbai-400051 Vs. The Addl. Commissioner of Income Tax, Range 10(1), Mumbai
March, 17th 2015
                    ,   "                       " 
     IN THE INCOME TAX APPELLATE TRIBUNAL "K" BENCH, MUMBAI

BEFORE HON'BLE S/SHRI JOGINDER SINGH (JM), AND B.R.BASKARAN (AM)
          ,      .. ,   
                     Stay Application No.64/Mum/2015
            arising out of   ./ ITA No.7602/Mum./2012
                 (   / Assessment Year: 2008-09)

M/s CA (India) Technologies       / The Addl. Commissioner of
Private Limited,                  Vs. Income Tax, Range 10(1),
Ground floor, Vibgyor Tower,          Mumbai
Plot No. C-62, G block,
Bandra Kurla Complex,
Bandra (E),
Mumbai-400051
       ( /Appellant)               ..     (    / Respondent)

          . /   . /PAN/GIR No. : AAACC4971D

            / Appellant by               Shri Ali Asgen Rampurawala

              /Respondent by             Shri Neil Philip


             / Date of Hearing
                                              :   13.3.2015
            /Date of Pronouncement : 13.3.2015
                                / O R D E R

Per B.R.BASKARAN, Accountant Member:


       The assessee has filed this stay application seeking extension of stay

of collection of outstanding demand relating to assessment year 2008-09.







2.     The ld. counsel appearing for the assessee submitted that the co-

ordinate Bench of the Tribunal had granted stay earlier, vide its order

dated 8.8.2014 passed in the assessee's case in SA No.208/Mum/2014 for

a period of 180 days. The bench also posted the appeal for hearing on
                                                              SA No.64/M/2015
                                    2


12.3.2014. However from that date, the case got adjourned from time to

time either at the request of the ld. DR or for the reason that the Bench

did not function.   Accordingly, the ld. AR submitted that there was no

default on the part of the assessee in not getting the appeal disposed of.

Accordingly the ld.AR, by placing reliance on the decision of the Hon'ble

Bombay High Court in the case of CIT V/s Ronak Industries Ltd. reported

in 333 ITR 99 (Bom), prayed that the stay may be extended for a further

period of six months. The ld. counsel further submitted that the appeals

of the assessee pertaining to earlier years have been posted for hearing on

18.3.2015 and accordingly prayed that the appeal relating to the year

under consideration may also be posted on that date.


3.    We have heard the ld. DR and he did not oppose the factual aspects

presented by the ld. AR.


4.    Having heard the rival contentions and upon noticing the fact that

the appeal was not adjourned at the instance of assessee, we are of the

view that it is a fit case for further extension of stay. Accordingly, we

direct the department not to enforce the collection of outstanding demand

for a further period of 180 days from the date of this order or till the

disposal of appeal whichever period expires earlier. Since the appeal of

the assessee for earlier years have been posted on 18.3.2015, we direct

the registry to post the appeal under consideration also on 18.3.2015.

Since the date of hearing is announced in the open court in the presence
                                                                  SA No.64/M/2015
                                      3







of both the parties, service of notice is hereby dispensed with.            The

assessee should also not seek adjournment on the date of hearing without

a reasonable and sufficient cause failing which; the present stay order

shall be subject to review by the Regular Bench hearing the appeal.


5.    In the result, the stay petition filed by the assessee is allowed.

The above order was pronounced in the open court on 13th Mar, 2015.
           13th Mar, 2015    

      sd                                                 sd

(   /JOGINDER SINGH)                      (..  ,/ B.R. BASKARAN)
     / Judicial Member                      /Accountant Member

            th
  Mumbai: 13 Mar,2015.


. ../ SRL , Sr. PS

        /Copy of the Order forwarded to :
1.  / The Appellant
2.     / The Respondent.
3.     () / The CIT(A)- concerned
4.      / CIT concerned
5.      ,     ,  /
     DR, ITAT, Mumbai concerned
6.
       / Guard file.


                                                  / BY ORDER,
            true copy
                                                 (Asstt. Registrar)
                                      ,  /ITAT, Mumbai

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