M/s IDS Infotech Ltd. v. The DCIT, Circle 4(1), Chandigarh
[Citation -2016-LL-1021-132]
| Citation | 2016-LL-1021-132 |
|---|---|
| Appellant Name | M/s IDS Infotech Ltd. |
| Respondent Name | The DCIT, Circle 4(1), Chandigarh |
| Court | ITAT-Chandigarh |
| Relevant Act | Income-tax |
| Date of Order | 21/10/2016 |
| Assessment Year | 2010-11 |
| Judgment | View Judgment |
| Keyword Tags | outstanding demand |
| Bot Summary: | PAN: AAACI4364E Appellant by : Shri Tej Mohan Singh Respondent by : Shri S.K.Mittal Date of Hearing : 21.10.2016 Date of Pronouncement : 21.10.2016 ORDER PER BHAVNESH SAINI,JM This stay application has been filed by assessee seeking extension of the stay against outstanding demand granted by the Tribunal vide order dated 23.03.2016. Briefly the facts of the case are that assessee earlier filed Stay Application No. 13/2016 for stay of recovery of 2 outstanding demand of Rs. 2,27,69,710/- for assessment year 2010-11. The said Stay Application has been disposed off vide order dated 23.03.2016 holding that it is a fit case where outstanding demand deserves to be stayed. The outstanding demand was stayed till the disposal of appeal or 180 days from the date of order, whichever is earlier, subject to payment of Rs. 20 lacs. Counsel for the assessee submitted that assessee had already complied with the order of the Tribunal by depositing the requisite amount in question. After considering rival submissions and considering the background of the case as noted above, in which earlier outstanding demand was stayed subject to condition, which have been complied with by the assessee and that there is no delay attributable on the part of the assessee in disposal of the appeal, we extend the stay order dated 23.03.2016 and the balance outstanding demand shall remain stayed till the disposal of appeal or 180 days from the date of this order, whichever is 3 earlier. The Stay Application of the assessee for extension of the stay already granted is accordingly, allowed. |