M/s Bhandari Fibretech Pvt.Ltd., S-20, Okhla Industrial Area, Phase-2, Vs. Income Tax Officer, Ward-4(4), New Delhi.
August, 16th 2019
IN THE INCOME TAX APPELLATE TRIBUNAL
`A' : NEW DELHI
DELHI FRIDAY BENCH `A
PANNU, VICE PRESIDENT AND
BEFORE SHRI G.S. PANNU,
CHARY, JUDICIAL MEMBER
SHRI K. NARASIMHA CHARY,
Stay Application No.856/Del/2019
(In ITA No.2694/Del/2019)
Assessment Year : 2012-
M/s Bhandari Vs. Income Tax Officer,
S-20, Okhla Industrial Area, New Delhi.
New Delhi 110 020.
PAN : AACCB6563A.
Appellant by : Shri Ashok Pathak, CA.
Respondent by : Shri Amit Katoch, Senior DR.
Date of hearing : 16.08.2019
Date of pronouncement : 16.08.2019
PANNU, VP :
PER G.S. PANNU,
The applicant submits that the total outstanding demand which
is disputed before the Tribunal is `1,97,08,782/-. The demand is
arising primarily on account of addition made under Section 68 of the
Act in respect of unexplained share application money. It is the say of
the applicant that both at the level of the Assessing Officer and before
the learned CIT(A), the merits of the issue have not been brought out
primarily for the reason that the proceedings have been finalized ex-
parte. It was also brought out that the assessee earns income by way
of rentals and its bank accounts as well as rental receipts have been
attached by the Department. It is also brought out that the rental
income of `5 lakhs per month received from the property at Okhla has
2 Stay 856/Del/2019
since been attached by the Department. The total recoveries made by
the Department till now aggregate to about `53 lakhs. It was
explained that due to aforesaid coercive measures, it has become
difficult for the assessee to even meet the routine business and
statutory obligations, like deposit of TDS etc.
2. Learned DR has explained that both the authorities have passed
the orders noticing the absence of the assessee for which no credible
reasons have been assigned by the assessee.
3. Having considered the rival aspects, we deem it appropriate to
order as under
(i) that the bank account of the assessee which has been attached
by the Department be defrozen;
(ii) that out of the total monthly rental receipts, an amount of `3
lakhs shall be handed over to the Department by 7th of every
(iii) that in the meantime, the hearing of the appeal of the assessee
pending before the Tribunal shall come up, on an out of turn
basis, on 10th October, 2019 before a regular bench; and
(iv) that except the recovery of the aforesaid amount of rent, the
Assessing Officer is precluded from taking any coercive
measures qua the pending disputed demand for a period of six
months from today or till the disposal of appeal by the Tribunal,
whichever is earlier
3 Stay 856/Del/2019
4. Accordingly, the stay application is disposed of in the above
Above decision was dictated and pronounced in the open Court
in the presence of both parties on 16th August, 2019.
(K. NARASIMHA CHARY) PANNU)
JUDICIAL MEMBER VICE PRESIDENT
Copy forwarded to: -
1. Appellant : M/s Bhandari Fibretech Pvt.Ltd.,
S-20, Okhla Industrial Area, Phase-2,
New Delhi 110 020.
2. Ward-4(4), New Delhi.
Respondent : Income Tax Officer, Ward-
5. DR, ITAT