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M/s. Zebra Innovations P. Ltd., 509, 5th Floor, Palm Springs Plaza, Sector-54, Gurgaon. vs. The Addl. CIT, Range-27, New Delhi.
March, 12th 2019
             IN THE INCOME TAX APPELLATE TRIBUNAL
                    DELHI BENCHES "F" : DELHI

       BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER
                            AND
           SHRI R.K. PANDA, ACCOUNTANT MEMBER

                Stay Application No.239/Del./2019
                           Arising out of
       ITA.No.6287/Del./2018 - Assessment Year 2014-2015

M/s. Zebra Innovations P.               The Addl. CIT,
Ltd., 509, 5th Floor, Palm              Range-27,
Springs Plaza, Sector-54,
                                   vs   New Delhi.
Gurgaon. Haryana ­ 122002.
PAN AACCC3817C
         (Applicant)                            (Respondent)

                                   Shri Ajay Vora, Sr. Advocate &
                    For Assessee : Shri Meenal Goyal, C.A.
                    For Revenue : Shri Surender Pal, Sr. D.R.

                Date of Hearing : 11.03.2019
        Date of Pronouncement : 11.03.2019

                                  ORDER

PER BHAVNESH SAINI, J.M.


              We have heard the Learned Representatives of

both the parties and perused the material available on

record.


2.            The assessee filed the present stay application for

stay    of    the    collection    of   outstanding      demand   of

Rs.2,53,05,130/- for the A.Y. 2014-2015.
                                2
                               SA.No.239/D/2019 in ITA.No.6287/D/2018
                                  M/s. Zebra Innovations P. Ltd., Gurgaon.







3.         The Learned Counsel for the Assessee referred to

the   Rectification   Tax   Demand       as    per     Order      dated

27.06.2017 passed by the A.O. on stay application filed by

the assessee, according to which, after giving appeal effect,

the net demand arise in a sum of Rs.2,20,08,160/-, against

which,   assessee     has   already   paid     15%      against      the

outstanding demand in a sum of Rs.33,01,224/-. He has,

therefore, submitted that outstanding demand as on

27.06.2017 comes to Rs.1,87,06,936/-. Learned Counsel for

the Assessee submitted that substantial addition has made

on account of rejection of the books of account under

section 145(3) of the I.T. Act without pointing any specific

defect in the maintenance of the books of account. He has,

therefore, submitted that assessee has a prima facie case

and balance of convenience also lies in his favour. Assessee

is willing to argue the appeal on any date as may be fixed by

the Court. He has further submitted that assessee is willing

to pay further Rs.15 lakhs to the Revenue and thus the

aggregate deposit against the outstanding demand would

comes to 21.82%.
                               3
                              SA.No.239/D/2019 in ITA.No.6287/D/2018
                                 M/s. Zebra Innovations P. Ltd., Gurgaon.


4.         On the other hand, Ld. D.R. submitted that

assessee may be directed to deposit more amount and he

has no objection if an early hearing of the appeal is granted

in the matter.







5.         After considering the rival submissions and

without commenting on the merits of the case, we are of the

view that assessee has a prima facie case for grant of stay

till disposal of the appeal, subject to certain conditions. We,

accordingly, stay the outstanding demand for a period of six

months or disposal of the appeal whichever expire earlier,

subject to payment of Rs.15 lakhs to be paid by the

assessee to the Revenue within 10 days from the date of the

Order. Appeal of the assessee be fixed for early hearing on

09.05.2019. Assessee shall not seek any unnecessary

adjournments in the matter. Paper book, if any, be filed as

per Rules. With the above directions, stay application of the

assessee is allowed.


6.         In the result, stay application of the assessee

allowed.
                                  4
                                  SA.No.239/D/2019 in ITA.No.6287/D/2018
                                     M/s. Zebra Innovations P. Ltd., Gurgaon.


           Order pronounced in the open Court.


    Sd/-                                     Sd/-
   (R.K. PANDA)                             (BHAVNESH SAINI)
ACCOUNTANT MEMBER                           JUDICIAL MEMBER

Delhi, Dated 11th March, 2019.

VBP/-

Copy to

1.   The appellant
2.   The respondent
3.   CIT(A) concerned
4.   CIT concerned
5.   D.R. ITAT `F' Bench, Delhi
6.   Guard File.

                      // BY Order //



          Assistant Registrar : ITAT Delhi Benches :
                         Delhi.

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