Appeal details
Counselvise Citation
[2024] 130 COUNSELVISE.COM (IT) 2567 (ITAT-CHENNAI)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
3 day(s)
Appellant
Respondent
Appeal Type
Stay Application
Pronouncement Date
27-12-2024
Appeal Filed By
Assessee
Order Result
Allowed
Bench Allotted
D
Next Hearing Date
15-10-2022
Assessment Year
2020-2021
Appeal Filed On
24-12-2024
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.86/Chny/2024 \n(arising out of ITA No.2501/Chny/2024) \nिनधा\n*रण वष* / Assessment Year: 2020-21 \n \n \nM/s. Sundaram Fasteners Ltd., \nNo.98-A, 7th Floor, \nAuras Corporate Centre, \nDr. Radhakrishnan Salai, \nMylapore, Chennai – 600 004. \n \nVs. \nThe Income Tax Officer, \nCorporate Ward-6(1), \nChennai. \n[PAN: AAACS 8779D] \n \n \n \n(अपीलाथ\u0007/Appellant) \n \n(\b\tयथ\u0007/Respondent) \n \nअपीला\nथ\u001c की ओर से/ Appellant by \n: \nShri Vikram Vijayaraghavan, \n Advocate \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.2,32,69,332/- for the \nAssessment Year 2020-21. \n \n\n \nSA No.86/Chny/2024 (AY 2020-21) \n(Arising in ITA No.2501/Chny/2024) \n \n:- 2 -: \n \n \n2. \nAt the outset, the Ld. A.R of the assessee brought to our \nnotice that pursuant to the final assessment order passed by the \nA.O, the demand raised is to the tune of Rs. 2,90,86,666/- and \nthe assessee has remitted more than 20% i.e., Rs. 58,17,334/-. \nThe \nLd. \nAR \nhas \nalso \nbrought \nto \nour \nnotice \nthat \nthe \ndemand/additions have arisen from five issues, of which four are \ncovered in favour of the assessee in the assessee’s own case, and \nthe remaining one issue is covered in favour of the assessee by \nthe order of this Tribunal in a similar matter. Therefore, according \nto him balance of convenience is in the assessee’s favour. \nTherefore, 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 \nfrom the discussion (supra) we are of the view that the assessee \n\n \nSA No.86/Chny/2024 (AY 2020-21) \n(Arising in ITA No.2501/Chny/2024) \n \n:- 3 -: \n \n \nhas made out a prima facie case and the balance of convenience is \nin favour of it. Therefore, we are inclined to grant stay of the \nbalance/outstanding demand and direct the appeal to be listed for \nhearing on 08.01.2025 and the assessee shall not seek \nadjournment without just cause. The stay is granted for six \nmonths or till the appeal is heard, whichever is earlier. In view of \nthe above, the stay application filed by the assessee is allowed on \nthe aforesaid terms. \n \n5. \nIn the result, the stay application filed by the assessee is \nallowed. \n \nOrder pronounced on 27th December, 2024. \n \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 \n \n \n\n \nSA No.86/Chny/2024 (AY 2020-21) \n(Arising in ITA No.2501/Chny/2024) \n \n:- 4 -: \n \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"
