RAJDHANI REALCON PVT. LTD.,NEW DELHI vs. ITO, WARD- 21(2), NEW DELHI

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ITA 854/DEL/2019Status: DisposedITAT Delhi16 August 2019AY 2010-112 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal found that the delay was not attributable to the assessee's conduct and therefore extended the stay for a further period of six months.

What were the facts?

The assessee sought an extension of a stay order granted on its appeals. The delay in the disposal of the appeals was attributed to the need for a Special Bench to adjudicate a transfer pricing issue related to corporate guarantee.

What were the issues?

The primary issue was whether the stay granted to the assessee should be extended, considering the ongoing proceedings before a Special Bench for a related transfer pricing matter.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH : FRIDAY : NEW DELHI

Before: SHRI R.K. PANDA & SHRI K. NARASIMHA CHARY

For Appellant: Shri Aditya Vohra, Advocate
For Respondent: Shri N.K. Bansal, Sr.DR
Hearing: 16.08.2019Pronounced: 16.08.2019

ORDER PER K. NARASIMHA CHARY, JM: By way of these Stay Petitions, assessee seeks extension of stay that was originally granted on 10.12.2015. Operation of such stay order has been extended from time to time and lastly by order dated 15.02.2019 for a period of six months.

2.

Ld. Authorized Representative submitted that subsequent to the latest stay order, the matter underwent adjournments because the ld. DR requested for the same on the ground that a Special Bench has to be constituted for adjudicating the transfer SA No.854 & 855/Del/2019 pricing issue relating to corporate guarantee and such a request is pending consideration. As of now, the appeal stands posted to 02.09.2019.

3.

Ld. Departmental Representative does not dispute any of these facts.

4.

Having regard to the facts and circumstances of the case, we are convinced that the delay in non-disposal of the appeal is not attributable to the conduct of the assessee and therefore, the stay could be extended for a further period of six months subject to the condition that the assessee shall not seek time, in the event of which the stay order shall stand cancelled.

5.

In the result, Stay Petition of the assessee is allowed. Order Pronounced in the Open Court on 16.08.2019.

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