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M/s. Goldman Sachs (India) Securities Pvt. Ltd. 951-A, Rational House Appasaheb Marathe Marg Prabhadevi Mumbai- 400 025 Vs. DCIT 3(1) Mumbai
August, 05th 2014
                  IN THE INCOME TAX APPELLATE TRIBUNAL,
                        MUMBAI BENCH "K" MUMBAI

      BEFORE SHRI D. KARUNAKAR RAO, ACCOUNTANT MEMBER AND
                DR. S.T.M. PAVALAN, JUDICIAL MEMBER

                            S.A. No. 201/Mum/2014
                    (Arising Out of ITA No. 222/Mum/2014)
                             Assessment Year: 2009-10

          M/s. Goldman Sachs (India)     DCIT 3(1)
          Securities Pvt. Ltd.           Mumbai
                                     Vs.
          951-A, Rational House
          Appasaheb Marathe Marg
          Prabhadevi Mumbai- 400 025
                (Applicant)                        (Respondent)

                     Permanent Account No. AAFCA 6819 F

                           Applicant by    :   Shri Madhur Agrawal
                          Respondent by    :   Shri Maurya Pratap

                       Date of hearing  : 01.08.2014
                  Date of Pronouncement : 01.08.2014


                                     ORDER

PER DR. S.T.M. PAVALAN, JM:

       By means of this present stay application, the assessee seeks to get extension
of the demand already stayed by the Tribunal for the assessment year 2009-2010 till
the final disposal of the appeal.




2.     We have heard the rival submissions and perused the relevant material on
record. It is seen that in this case the stay was earlier granted by the Tribunal in SA
No.17/Mum/2014 vide its order dated 31.01.2014 for a period of six months or till
the disposal of the appeal, whichever is earlier subject to payment of Rs.1 crore on
or before 15.03.2014. The Ld.Counsel for the assessee stated that the conditions
stipulated by the Tribunal in the said order of stay in respect of the payment of Rs. 1
crore has been duly complied with by the assessee and the case could not be taken
up for hearing due to certain reasons for which the assessee is not at fault. The
Ld.DR could not controvert these submissions made on behalf of the assessee.
                                                                                       S.A. No. 201/Mum/2014
                                            2                         (Arising Out of ITA No. 222/Mum/2014)
                                                                     M/s. Goldman Sachs (India) Securities Pvt. Ltd.
                                                                                       Assessment Year: 2009-10


3.     Taking into consideration of the entire factual position in this regard, we grant
the extension of stay of demand till the disposal of the present appeal or for a
further period of 180 days with effect from the date of expiry of the earlier stay
whichever is earlier. It has been brought to our notice that hearing of the appeal has
already been fixed by the Tribunal on 13.08.2014.             It is made clear that the
extension of stay is granted subject to the condition that the assessee will not seek
adjournment without just case. In case any adjournment is sought without good
reasons, the stay granted hereinabove shall automatically stand revoked, the case
will be de-listed from the priority list and it will come up for hearing in the normal
course.
4. In the result, the stay application is allowed. Order pronounced in the open court on this 1st day of August, 2014. Sd/- Sd/- (D. KARUNAKAR RAO) (Dr. S.T.M. PAVALAN) ACCOUNTANT MEMBER JUDICIAL MEMBER Mumbai, Dated: 01.08.2014 *Srivastava Copy to: The Appellant The Respondent The CIT, Concerned, Mumbai The CIT(A) Concerned, Mumbai The DR "K" Bench //True Copy// By Order Dy/Asstt. Registrar, ITAT, Mumbai.
 
 
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