Gemological Institute of America, Inc v. ACIT– (International Taxation), Range – 2(3), Mumbai
[Citation -2019-LL-0920-107]

Citation 2019-LL-0920-107
Appellant Name Gemological Institute of America, Inc
Respondent Name ACIT– (International Taxation), Range – 2(3), Mumbai
Court ITAT-Mumbai
Relevant Act Income-tax
Date of Order 20/09/2019
Assessment Year 2011-12
Judgment View Judgment
Keyword Tags outstanding demand • extension of stay
Bot Summary: By these two stay petitions the assessee is seeking extension of stay of outstanding demand of.36.36 Crores and.46.21 Crores for the A.Ys. Ld. Counsel for the assessee further submits that stay has been granted by the Tribunal earlier and has been extended from time to time and the 2 S.A. NOs. 366 367/MUM/2019 Gemological Institute of America, Inc., latest order is dated 17.05.2019 where the stay has been extended for four months. It is requested that the stay granted may be extended till the disposal of appeals. On the other hand, the Ld. DR vehemently opposed for granting of absolute stay. On hearing rival submissions and perusing the chronology of events and considering the fact that the appeals have already been heard by the Bench, we hereby extend stay of outstanding demand for the A.Ys. In the result, Stay Applications are allowed as indicated above.


IN INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH I MUMBAI BEFORE SHRI PRAMOD KUMAR, HON BLE VICE PRESIDENT & SHRI C.N. PRASAD, HON'BLE JUDICIAL MEMBER S.A. NOs. 366 & 367/MUM/2019 [ARISING OUT OF ITA.NO. 386/MUM/2016 (A.Y: 2011-12) & ITA.No. 1836/MUM/2017 (A.Y: 2012-13)] Gemological Institute of America, Inc., v. ACIT (International Taxation) C/o. GIA India Laboratory Pvt. Ltd., Range 2(3) 10th Floor, Trade Centre Mumbai Bandra Kurla Complex Bandra (E), Mumbai 400 051 PAN: AADCG7962K (Appellant) (Respondent) Assessee by : Shri Niraj Sheth Department by : Shri Avneesh Tiwari Date of Hearing : 20.09.2019 Date of Pronouncement : 20.09.2019 ORDER PER C.N. PRASAD (JM) 1. By these two stay petitions assessee is seeking extension of stay of outstanding demand of .36.36 Crores and .46.21 Crores for A.Ys. 2011-12 & 2012-13 respectively. 2. Ld. Counsel for assessee at time of hearing submitted that appeals have been heard by Bench and concluded on 19.09.2019. Ld. Counsel for assessee further submits that stay has been granted by Tribunal earlier and has been extended from time to time and 2 S.A. NOs. 366 & 367/MUM/2019 Gemological Institute of America, Inc., latest order is dated 17.05.2019 where stay has been extended for four months. It is requested that stay granted may be extended till disposal of appeals. 3. On other hand, Ld. DR vehemently opposed for granting of absolute stay. 4. On hearing rival submissions and perusing chronology of events and considering fact that appeals have already been heard by Bench, we hereby extend stay of outstanding demand for A.Ys. 2011-12 & 2012-13 for period of 180 days or till disposal of appeals whichever is earlier. 5. In result, Stay Applications are allowed as indicated above. Order pronounced in open court on 20th September, 2019 Sd/- Sd/- (PRAMOD KUMAR) (C.N. PRASAD) VICE PRESIDENT JUDICIAL MEMBER Mumbai / Dated 20/09/2019 Giridhar, Sr.PS Copy of Order forwarded to: 1. Appellant 2. Respondent. 3. CIT(A), Mumbai. 4. CIT 5. DR, ITAT, Mumbai 6. Guard file. True Copy BY ORDER (Asstt. Registrar) ITAT, Mum Gemological Institute of America, Inc v. ACIT (International Taxation), Range 2(3), Mumbai
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