Nokia India Pvt.Ltd vs JCIT

The present stay application filed by the assessee seeking stay of outstanding demand of Rs.1,01,64,16,110/- relating to Assessment Year 2014-15.

On the last date of hearing, it was informed by the Ld. Counsel for the assessee that the assessee had approached Hon'ble High Court against the adjustment of refund towards outstanding demand by the Assessing Officer and stating that no stay application is pending before the Tribunal. Ld. Counsel for the assessee submitted that matter was fixed for hearing on 25.08.2021. However, on the request of the Ld. Standing Counsel for the Revenue, the hearing was adjourned. Ld. Counsel for the assessee displayed the order of the Hon'ble High Court whereby the hearing was adjourned. Ld. Counsel for the assessee submitted that more than 60 % of the disputed demand has already been adjusted by the Department. He submitted that the appeal of the assessee is now fixed for hearing on 20.09.2021. Therefore, Ld. Counsel for the assessee submitted that the disputed demand may be stayed. He submitted that the assessee prima-facie has very good case and there is every likelihood of success.

Ld. Sr. DR opposed these submissions of Ld. Counsel for the assessee. However, he conceded the fact that more than 60% of the outstanding demand has already been adjusted by the Department.

We have heard the rival contentions and perused the material available on record. The Revenue has not disputed the fact that 60% of the outstanding demand has already been adjusted against the refund dues and appeal of the assessee is now fixed for hearing on 20.09.2021. Considering the totality of the facts, we deem it proper and in the interest of substantial justice, to stay the outstanding demand for a period of 90 days from today. The assessee is however, directed that it would not seek any adjournment without any reasonable cause. The stay application is disposed in the terms stated above.

In the result, the stay application filed by the assessee is allowed.