IN INCOME-TAX APPELLATE TRIBUNAL C BENCH, CHENNAI Before Shri Chandra Poojari, Accountant Member & Shri Duvvuru RL Reddy, Judicial Member S.P.No.209/Mds/2016 [In I.T.A. No. 962/Mds/2016] Assessment Year :2012-13 M/s. IFMR Trust, Assistant Commissioner of IIT-M, Research Park, A-1, Vs. Income Tax, 10th Floor, Kanagam Village, Non-Corporate Circle 13(1), Taramani, Chennai 600 113. Chennai. [PAN:AAATI5801P] ( Appellant) (Respondent) Appellant by Shri Vikram Vijayaraghavan, : Advocate Respondent by : Shri Supriyo Pal, JCIT Date of hearing : 30.09.2016 Date of Pronounce ment : 30.09.2016 O R D E R PER DUVVURU RL REDDY, JUDICIAL MEMBER: This stay petition is filed by assessee seeking stay from recovery of outstanding demand of .2,00,93,934/- till final disposal of appeal for assessment year 2012-13. 2 S.P. No.209/M/16 2. At time of hearing, ld. Counsel for assessee has submitted that by granting early hearing on 11.05.2016, assessee has been granted stay from recovery of above outstanding demand by this Tribunal vide its order in S.P. No. 110/Md/2016 dated 22.04.2016 for period of sixty days or till disposal of appeal, whichever is earlier. hearing of appeal has been continued and when appeal was last heard on 29.09.2016, Department has sought for adjournment and hearing of appeal is fixed on 08.11.2016. In view of above, ld. Counsel for assessee has prayed that stay may be granted till final disposal of appeal. 3. On other hand, ld. DR has not objected to submissions of ld. Counsel for assessee. 4. We have heard both sides and perused records. Department has sought for adjournment when appeal was last heard on 29.09.2016 and arguments are yet to be completed. Accordingly, next hearing of appeal is fixed on 08.11.2016. Under this facts and circumstances, we are of considered opinion that stay already granted has to be extended. Accordingly, we 3 S.P. No.209/M/16 grant stay from recovery of outstanding demand for period of sixty days or till disposal of appeal, whichever is earlier. 5. In result, stay petition filed by assessee is allowed as indicated herein above. Order pronounced on 30th September, 2016 at Chennai. Sd/- Sd/- (CHANDRA POOJARI) (DUVVURU RL REDDY) ACCOUNTANT MEMBER JUDICIAL MEMBER Chennai, Dated, 30.09.2016 Vm/- Copy to: 1. Appellant, 2. Respondent, 3. CIT(A), 4. CIT, 5. DR & 6. GF. M/s. IFMR Trust v. Assistant Commissioner of Income-tax, Non-Corporate Circle 13(1), Chennai