Intelligrape Software P. Ltd. v. Cit

H.S. Sidhu, J.M.:— This Stay Application u/s 35A of the Income-tax Appellate Tribunal Rules, 1963 has been preferred by the assessee, seeking stay of balance outstanding demand in dispute. Ld. Counsel of the assessee has reiterated the reasons given in the Stay Application and also stated that out of total disputed income tax demand of Rs. 59,75,680/-, demand of Rs. 18,00,000/- as has already been deposited and accordingly balance income tax demand of Rs. 41,75,680/- may kindly be stayed till the disposal of the appeal and also for grant early hearing of the main appeal.

2. On the contrary, Ld. DR opposed the request for grant of stay made by the Ld. counsel for the assessee, but did not raise any objection on the early hearing of the main appeals.

3. We have heard both the parties and perused the records available with us, especially the orders of the authorities below. Keeping in view of the facts and circumstances of the case, we are of the considered view that the assessee has not established the prima facie case in its favour and also balance of convenience is also not in its favour for stay on the balance outstanding demand in dispute. Accordingly, we are not granting the Stay on the outstanding demand. However, the request for early hearing is granted and Registry is directed to fix the main appeal for hearing on 26.03.2019. Since the date has been announced in the Open Court, there is no need to send the notices to the parties. The copy of this Order be given to both the parties DASTI.

4. In the result, the Assessee's Stay Applications stand disposed off, as aforesaid.