At, Income Tax Appellate Tribunal Pune
By, THE HONOURABLE MR. R.S. SYAL
By, VICE PRESIDENT & THE HONOURABLE MR. VIKAS AWASTHY
By, JUDICIAL MEMBER
For the Appellant: V.L. Jain, Advocate. For the Respondent: S.K. Verma, Advocate.
R.S. Syal, VP:
1. By means of the present application, the assessee seeks stay of the outstanding demand of Rs.14,98,340/-
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in relation to the assessment year 2013-14.
2. The ld. AR submitted that, out of outstanding demand of R.21,87,250, the assessee has already paid a sum of Rs.6,88,910/- which comes to around 31% of the total outstanding demand and there is chance of winning the case. The assessee also seeks grant of early hearing of the appeal. It was, therefore, prayed that the stay hitherto may be granted. The ld. DR opposed the grant of stay.
3. We have heard the parties and perused the relevant material on record. Admittedly, it is found that the assessee has already paid 31% of the total outstanding demand. Considering the entirety of the facts and circumstances of the instant case, we are inclined to grant stay on the outstanding demand for a period of six months from today or till the disposal of the appeal, whichever is earlier. As announced in the open Court, the appeal is directed to be fixed for hearing on 19-12-2018. The stay is subject to the assessee furnishing an undertaking to the AO that it shall not alienate any of its immovable properties during the pendency of the appeal. Further, the assessee will not be entitled to seek adjournment without a just cause.
4. In the result, the stay application is allowed.