Appeal details
Counselvise Citation
[2024] 130 COUNSELVISE.COM (IT) 2565 (ITAT-CHENNAI)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
4 day(s)
Appellant
Respondent
Appeal Type
Stay Application
Pronouncement Date
27-12-2024
Appeal Filed By
Department
Order Result
Allowed
Bench Allotted
D
Next Hearing Date
15-10-2021
Assessment Year
2021-2022
Appeal Filed On
23-12-2024
Judgement Text
" \nआयकर अपीलीय अिधकरण, ‘डी’ \u000fा\nयपीठ, चे\u0014ई। \nIN THE INCOME TAX APPELLATE TRIBUNAL \n‘D’ BENCH: CHENNAI \n \n\u0017ी एबी टी. वक\u001c, \u000fा\nियक सद\u001f एवं \u0017ी जगदीश, लेखा\n सद\u001f क\nे सम& \nBEFORE SHRI ABY T. VARKEY, JUDICIAL MEMBER AND \n SHRI JAGADISH, ACCOUNTANT MEMBER \n \n'े या\nिचका\n सं. / S.A No.84/Chny/2024 \n(arising out of IT(TP)A No.94/Chny/2024) \nिनधा\n*रण वष* / Assessment Year: 2021-22 \n \n \nM/s. Information Evolution India \nPvt. Ltd., \nModule No.002/2, Ground Floor, \nTidel \nPark \nCoimbatore \nLtd., \nElcosez, Coimbatore Aerodrome \nS.O, Coimbatore – 641 014. \n \nVs. \nThe \nDy. \nCommissioner \nof \nIncome Tax, \nTP-2, Chennai. \n[PAN: AACCI 9570N] \n \n \n \n(अपीलाथ\u0007/Appellant) \n \n(\b\tयथ\u0007/Respondent) \n \nअपीला\nथ\u001c की ओर से/ Appellant by \n: \nShri Suraj Nahar, C.A \n./थ\u001c की ओर से /Respondent by \n: \nShri M.P. Guruprasad, Addl. CIT \n \nसुनवा\nई की ता\nरीख/Date of Hearing \n: \n27.12.2024 \nघोषणा\n की ता\nरीख/Date of Pronouncement \n: \n27.12.2024 \n \nआदेश / O R D E R \n \nPER JAGADISH, A.M : \nThis is a stay application preferred by the assessee requested \nfor stay of outstanding demand of Rs.24,49,140/- for the \nAssessment Year 2021-22. \n \n\n \nSA No.84/Chny/2024 (AY 2021-22) \n(Arising in IT(TP)A No.94/Chny/2024) \n \n:- 2 -: \n \n \n2. \nAt the outset, the Ld. A.R of the assessee brought to our \nnotice that the demand raised is to the tune of Rs.30,61,425 (Tax \nRs. 19,47,347/- + interest Rs. 11,14,078/-), out of which, the \nassessee has already remitted more than 20% of the demand i.e., \nRs.6,12,285/-. Thus, the outstanding amount is to the tune of \nRs.24,49,140/-. According to the assessee, the addition has \narisen from the TP adjustment made and the dispute is only \nregarding inclusion/exclusion of certain comparables. Therefore \naccording to him, balance of convenience is in the assessee’s \nfavour. Hence, he pleads for stay of the remaining outstanding \ndemand. \n \n3. \nPer contra, the Ld. Departmental Representative could not \ncontrovert the aforesaid submissions of the assessee but resisted \nthe demand of stay. \n \n4. \nHaving heard both the sides and after perusal of the records, \nwe note that the assessee has remitted 20% of the demand, and \nduring the hearing, the Ld. AR has undertaken to remit 10% of \noutstanding balance i.e., Rs. 2,44,914/-, before 31.01.2025. \n\n \nSA No.84/Chny/2024 (AY 2021-22) \n(Arising in IT(TP)A No.94/Chny/2024) \n \n:- 3 -: \n \n \nConsidering the fact that the addition is mainly on account of TP \nadjustment and the dispute is only regarding inclusion/exclusion \nof certain comparables. Therefore, we are inclined to grant stay \nof the balance/outstanding demand provided assessee remits Rs. \n2,44,914/- before 31.01.2025, and it is noted that the appeal is \nfixed for hearing on 09.01.2025, and the assessee shall not seek \nan adjournment without just cause. Accordingly, the stay is \ngranted for six months or till the appeal is heard whichever is \nearlier. In view of the above, the stay application filed by the \nassessee is allowed in the aforesaid terms. \n \n \n5. \nIn the result, the stay application filed by the assessee is \nallowed. \n \nOrder pronounced on 27th December, 2024. \n \nSd/- \n \nSd/- \n(एबी टी. वक\u001c) \n(ABY. T. Varkey) \n\u000fाियक सद\u001f / Judicial Member \n \n(जगदीश) \n(Jagadish) \nलेखा सद\u001f /Accountant Member \nचे\u0010नई/Chennai, \u0013दनांक/Dated: 27th December, 2024. \nEDN/- \n \n \n \n\n \nSA No.84/Chny/2024 (AY 2021-22) \n(Arising in IT(TP)A No.94/Chny/2024) \n \n:- 4 -: \n \n \nआदेश क\u0016 \bितिल\u0019प अ\u001aे\u0019षत/Copy to: \n1. अपीलाथ\u0007/Appellant \n2. \b\tथ\u0007/Respondent \n3. आयकर आयु\u000f/CIT, Chennai \n4. िवभागीय \bितिनिध/DR \n5. गाड\u0018 फाईल/GF \n \n"
