Main Search Premium Members Advanced Search Disclaimer
User Queries
Try out the Virtual Legal Assistant to take your notes as you use the website, build your case briefs and professionally manage your legal research. Also try out our Query Alert Service and enjoy an ad-free experience. Premium Member services are free for one month and pay only if you like it.
Income Tax Appellate Tribunal - Pune
C G Lucy Switchgear Ltd,, Nashik vs Assessee on 21 September, 2012
                    PUNE BENCH "B", PUNE

      Before Shri Shailendra Kumar Yadav, Judicial Member,
             and Shri R.K.Panda, Accountant Member.

                Arising out of ITA.No.1425/PN/2012
                       (Asstt. Year : 2009-10)

     CG Lucy Switchgear Ltd.,
     F-10, MIDC, Ambad,
     Nashik - 422010.                               ..   Appellant
     PAN: AAACC9268P

     Bangalore.                                     ..   Respondent

     Assessee by                :         Sri Pradip Kapasi
     Department by              :         Ms.Vinita Menon
     Date of Hearing            :         21.09.2012
     Date of Pronouncement      :         21.09.2012



The assessee vide this stay petition has requested to stay demand of Rs.42,35,056/-. The assessee submitted that recovery of impugned demand should be stayed till disposal of the appeal by the Tribunal and concerned Revenue authorities should be restrained from recovering the impugned demand in question. The assessee has strong prima facie case in its favour. Balance of convenience is also lying in favour of the assessee and assessee will suffer irreparable loss in case recovery of impugned demand is not stayed. Ld. Authorised Representative also submitted that assessee has financial hardships so it is not in a position to make any payment. On the other hand Ld. Departmental Representative submitted that the assessee will not suffer any irreparable loss in case recovery of the impugned demand is not stayed, so stay petition should be rejected.


2. After going through the above submissions and material on record, we find that this is not a fit case for granting the stay. However, in the interest of justice, the assessee is granted early hearing and the Registry is directed to fix the case on 12.10.2012.

3. Accordingly, the stay petition is disposed off as indicated above.

Pronounced in the open court on this the 21st day of September, 2012.

        Sd/-                                         Sd/-
   ( R.K.PANDA )                          ( SHAILENDRA KUMAR YADAV )
ACCOUNTANT MEMBER                               JUDICIAL MEMBER


Pune, dated the 21st September, 2012 Copy of the order is forwarded to:

1. The Assessee
2. The ACIT(CPC), Bangalore.
3. The CIT(A)-I, Nashik.
4. The CIT-I, Nashik.
5. The DR "B" Bench, Pune.
6. Guard File.
By Order //TRUE COPY// Private Secretary, Income Tax Appellate Tribunal, Pune.