Per R.S.Syal, AM : By means of this present stay application the assessee seeks to get the extension of demand already stayed by the tribunal amounting to ` 11.13 lakh for the assessment year 2007-2008 inclusive of interest, till the final disposal of the appeal.
2. We have heard the rival submissions and perused the relevant material on record. It is seen that in this case the stay was earlier granted by the Tribunal in SA No.113/Mum/2012 vide its order dated 9th March, 2012, for a period of 180 days or till the final disposal of the appeal, whichever is earlier, subject to the condition of payment of `10,00,000. The said amount has been deposited by the assessee on 29.03.2012 i.e. SA No.275/Mum/2012 M/s.Everest Kanto Cylinder Limited. before the stipulated date. It has been stated by the learned AR that the appeal is fixed for hearing on 20.11.2012. The learned Counsel for the assessee further stated that the appeal could not be taken up for hearing due to certain reasons for which the assessee is not at fault. The ld. DR did not controvert the position so stated on behalf of the assessee.
3. The Special bench of the tribunal in Tata Communications Ltd. vs. ACIT (2011) 130 ITD 19 (SB)(Mum), following the judgment of the Honble jurisdictional High Court in CIT VS. Ronuk Industries Ltd. (2011) 333 ITR 99 (Bom), has held that the where the delay in the disposal of pending appeal is not attributable to the assessee, the tribunal has power to extend the stay beyond a period of 365 days even after the amendment of the third proviso to section 254(2A) w.e.f 1st October, 2008. Taking into consideration the entire factual position in this regard as discussed above; the further fact that the assessee has already complied with the terms and conditions of the first stay; and that the assessee has not adopted a hostile attitude in the disposal of appeal, we grant the extension of stay of demand till the disposal of the present appeal or for a further period of 180 days from the date of this order, whichever is earlier. It is made clear that the extension of stay is granted subject to the condition that the assessee will not seek adjournment without just case. In case any adjournment is sought without good reasons, the stay granted hereinabove shall automatically revoke and case will be de-listed from the priority list to come up for hearing in the normal course. SA No.275/Mum/2012 M/s.Everest Kanto Cylinder Limited.
4. In the result, the stay application is allowed. Order pronounced in the open Court on this 28th day of September, 2012. Sd/- Sd/ (Vivek Varma) (R.S.Syal) JUDICIAL MEMBER ACCOUNTANT MEMBER Mumbai : 28th September, 2012. Devdas* Copy to :
1. The Applicant.
2. The Respondent.
3. The CIT concerned
4. The CIT(A) XV, Mumbai.
5. The DR/ITAT, Mumbai.
6. Guard File. TRUE COPY. By Order Assistant Registrar, ITAT, Mumbai.