TMI Blog2014 (8) TMI 560X X X X Extracts X X X X X X X X Extracts X X X X ..... full payment between October 2013 and February 2014 - the petitioner is granted liberty to pay an amount of ₹ 20.00 lacs, which is for the defaults for the months of April, May, June and July 2014, no later than within a period of one week from today – if the assessee shows his bona fides by complying with the directions, he shall thereafter have a further opportunity to strictly abide by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 143 (3) of the Income Tax Act, 1961 and an appeal for Assessment Year 2008-09 arising out of an imposition of penalty under Section 271 (1) (c) of the Act. An application for stay which was moved before the Tribunal has admittedly been rejected. The petitioner had moved the Assistant Commissioner of Income Tax for the grant of installments by a letter dated 19 September 2013. Finding that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er was directed to pay ₹ 5.00 lacs each month between 20 February 2014 and 20 July 2014 and thereafter monthly installments of ₹ 64.90 lacs between 20 August 2014 and 20 February 2015. The petitioner has only deposited an amount of ₹ 10 lacs and has defaulted in making the payment of the remaining installments of ₹ 5.00 lacs each month from April to July 2014. Due to the de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... justice would be met if the petitioner is granted liberty to pay an amount of ₹ 20.00 lacs, which is for the defaults for the months of April, May, June and July 2014, no later than within a period of one week from today. The petitioner shall also pay an amount of ₹ 64,90,870/- which is due on or before 20 August 2014. We grant this last and final indulgence to the petitioner for compl ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
