Stone Impex India Pvt. Ltd. v. Income-tax Officer, Ward 6(1)(4), Bangalore
[Citation -2019-LL-0930-60]
| Citation | 2019-LL-0930-60 |
|---|---|
| Appellant Name | Stone Impex India Pvt. Ltd. |
| Respondent Name | Income-tax Officer, Ward 6(1)(4), Bangalore |
| Court | ITAT-Bangalore |
| Relevant Act | Income-tax |
| Date of Order | 30/09/2019 |
| Assessment Year | 2014-15 |
| Judgment | View Judgment |
| Keyword Tags | disallowance of donation • financial hardship • outstanding demand • stay of recovery • re-opening of assessment |
| Bot Summary: | CIT Date of Hearing 27.09.2019 Date of Pronouncement 30.09.2019 ORDER PER SHRI PAVAN KUMAR GADALE, JM The assessee has filed Stay Petition No.285/Bang/2019 in ITA No.1863/Bang/2019 for the Assessment Year 2014-15 for stay of recovery of outstanding demand of Rs.9,03,368 including interest. AR submitted that the assessee is engaged in processing and exporting and filed the Return of Income for the Assessment Year 2014-15 on 9.11.2014 with total income of Rs.27,98,343 and the assessment was reopened under the provisions of Section 147 of the Income Tax Act, 1961 and the Assessing Officer made disallowance of donation and assessed the total income of Rs.54,24,340 on 16.12.2017. On appeal, the learned CIT(Appeals) has confirmed the Assessing Officer s action and dismissed the assessee's appeal. Subsequently, the assessee has filed an appeal against the order of learned CIT(Appeals) with the Tribunal. AR s submitted that the assessee has prima facie good case on merits and supported with judicial decisions and explained that the assessee is passing financial difficulties and not in a position to make further payments of outstanding tax liability. Prima facie, the assessee has filed Stay Petition for the stay of recovery of Rs.9,03,368 including interest. AR submitted that the assessee is passing financial hardship, we 3 S.P. No.265/Bang/2019 consider it proper to grant early hearing to the assessee. |