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2014 (4) TMI 209 - BOMBAY HIGH COURTStay application on penalty u/s 271(1)(c) of the Act - Order for deposit of amount – Held that:- The order of the Tribunal has been passed in total disregard of the principles laid down in KEC International Ltd. v. B. R. Balakrishnan [2001 (3) TMI 32 - BOMBAY High Court] wherein parameters have been laid down to be observed by the authorities - the assessee has a strong prima facie case on the merits before the Tribunal - the assessee has already paid the full tax amount and also approximately 25 percent of the penalty amount earlier, the Tribunal ought not to have required the assessee to deposit a further sum of ₹ 50 lakhs – thus, the order of the Tribunal is set aside to the extent it directs the assessee to deposit a further amount – stay granted.
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