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2018 (4) TMI 528 - BOMBAY HIGH COURTStay of demand u/s 220(6) - primary contention of the petitioner that in terms of the CBDT Circular dated 29th February, 2016, the 20% of the above demands have been paid by way of adjustment of its refund due for the other assessment years, thus warranting a stay for the balance demand - Held that:- Impugned order without considering the decision in Andrew Telecommunications India (P) Ltd. (2016 (12) TMI 1286 - BOMBAY HIGH COURT) and the other submissions warranting a stay has in breach of the parameters laid down for disposal of the stay application under Section 220(6) of the Act by this Court in KEC International Ltd. Vs. B.R. Balakrishnan [2001 (3) TMI 32 - BOMBAY High Court]. Therefore, the impugned order dated 26th March, 2018 is quashed and set aside. The petitioner's stay application dated 19th March, 2018 is restored to the file of the Commissioner of Income Tax (Exemptions) – respondent no.1 for fresh disposal in accordance with law.
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