Kishore Jagannath Dandeker v. The Income-tax Officer, Non-Corporate Ward-11(3), Chennai
[Citation -2019-LL-0927-49]
| Citation | 2019-LL-0927-49 |
|---|---|
| Appellant Name | Kishore Jagannath Dandeker |
| Respondent Name | The Income-tax Officer, Non-Corporate Ward-11(3), Chennai |
| Court | ITAT-Chennai |
| Relevant Act | Income-tax |
| Date of Order | 27/09/2019 |
| Assessment Year | 2015-16 |
| Judgment | View Judgment |
| Keyword Tags | unexplained investment • sale consideration • extension of stay • differential amount |
| Bot Summary: | PAN:AAEPD2514N Petitioner by Shri R. Vijayaraghavan, Advocate Respondent by Ms. R. Anita, JCIT Date of hearing 27.09.2019 Date of Pronouncement 27.09.2019 ORDER PER DUVVURU RL REDDY, JUDICIAL MEMBER: This stay petition is filed by the assessee seeking grant of extension of stay from recovery of the outstanding disputed demand of.22,38,930/- till the final disposal of the appeal filed by the assessee for the assessment year 2015-16. Counsel for the assessee that the assessment under section 143(3) of the Income Tax Act, 1961 Act in 2 S.P. No. 272/Chny/19 short was completed by making addition of.12,25,000/- being difference in sale consideration received as well as unexplained investment of.54,00,000/-. Counsel for the assessee has submitted that against the total tax payable. Counsel for the assessee has submitted that there is prima facie case in appeal filed by the petitioner and moreover, the assessee has already paid.5,00,000/- against the total tax demanded and pleaded that stay may be granted till final disposal of the appeal filed by the petitioner. Further, we direct the assessee not to seek adjournment other than for just cause. If the assessee is found violated the above condition, the stay granted hereinabove shall be vacated automatically. With the above, stay petition filed by the assessee is disposed off. |