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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