A. M. Arumugam v. Assistant Commissioner of Income-tax, Circle-11, Chennai - 2016-LL-0916-168

Citation	2016-LL-0916-168
Appellant Name	A. M. Arumugam
Respondent Name	Assistant Commissioner of Income-tax, Circle-11, Chennai
Court	ITAT-Chennai
Relevant Act	Income-tax
Date of Order	16/09/2016
Assessment Year	2012-13
Judgment	View Judgment
Keyword Tags	outstanding demand • recovery of tax • stay petition • capital gain
Bot Summary:	At the outset, the learned Authorized Representative submitted that the learned Assessing Officer has erroneously computed the capital gain in regard to the sale of the land as depreciable asset. It was therefore submitted that the assessee has a fair chance of succeeding in the appeal and the recovery of tax at this stage would bring enormous hardship to the assessee. It was pleaded that a short stay may be granted to the assessee and the appeal may be taken up for hearing on an early date. The learned Departmental Representative vehemently opposed to the submissions of the learned Authorized Representative, however could not controvert to the error pointed out by the learned Authorized Representative made by the learned Assessing Officer while computing the capital gain. After hearing both the sides, we are of the considered view that the assessee deserves a short stay. Accordingly, we hereby stay the recovery of demand by the Revenue for a period of sixty days or till the disposal of the appeal, whichever is earlier and also direct the Registry to post the appeal for hearing on 28.09.2016. In the result, stay petition filed by the assessee is allowed.

IN INCOME TAX APPELLATE TRIBUNAL , B BENCH, CHENNAI, BEFORE SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SHRI G.PAVAN KUMAR, JUDICIAL MEMBER Stay Petition No.195 Mds 2016 (in I.T. A.No.2336 Mds 2 16) ( Assessm ent Year: 2012 -13) Mr. A.M.Arumugam, Vs Assistant Commissioner of 14 11. Norton III Street, Income Tax, Mandaveli, Chennai-600 028. Non-Corporate Circle-11, Chennai. PAN: AAFPA2758N (Petitioner) ( Respondent) Applicant by : Mr. J.Prabhakar, C.A Respondent by : Mr. Supriyo Pal, JCIT : 16th September,2016 16th September, 2016 ORDER Per A. Mohan Alankamony, AM: stay petition is filed by assessee seeking stay from recovery of outstanding demand of `28,96,760 -. 2. At outset, learned Authorized Representative submitted that learned Assessing Officer has erroneously computed capital gain in regard to sale of land as depreciable asset. It was therefore submitted that assessee has fair chance of succeeding in appeal and recovery of tax at this stage would bring enormous hardship to assessee. Hence, it was pleaded that short stay may be granted to assessee and appeal may be taken up for hearing on early date. 2 S.P. No.195 Mds 2016 3. learned Departmental Representative vehemently opposed to submissions of learned Authorized Representative, however could not controvert to error pointed out by learned Authorized Representative made by learned Assessing Officer while computing capital gain. 4. After hearing both sides, we are of considered view that assessee deserves short stay. Accordingly, we hereby stay recovery of demand by Revenue for period of sixty days or till disposal of appeal, whichever is earlier and also direct Registry to post appeal for hearing on 28.09.2016. Since both parties are intimated in open court in regard to date of hearing, notice need not be issued. 5. In result, stay petition filed by assessee is allowed. Order pronounced in open court on 16th September, 2016 Sd - Sd - (G.Pavan Kumar) ( A.Mohan Alankamony ) Judicial Member Accountant Member Chennai, Dated 16th September, 2016 somu Copy to: 1. Appellant 2. Respondent 3. ( ) CIT(A) 4. CIT 5. DR 6. GF. A. M. Arumugam v. Assistant Commissioner of Income-tax, Circle-11, Chennai

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