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2015 (5) TMI 996 - AT - Income TaxUndisclosed receipts - stay of demand seeked - Held that:- We have gone through the affidavit of Shri Manish K. Chatwani dated 28.06.2013. We are not sure about the authenticity of the copy of this affidavit. Hence, this affidavit needs verification. Accordingly, Ld. DR was asked to verify this affidavit or the authenticity of this affidavit. The Ld. Sr. DR is also asked to send this affidavit to ITO, Ward 22(3)2, Mumbai and he can call for Shri Manish K. Chatwani for verification whether he admits this amount belongs to him or not and send the report to the Tribunal within a month’s time from the date of receipt of this order. In view of the above uncertainty, whether the amount belongs to assessee or Shri Manish K. Chatwani, we are inclined to grant stay of this demand with the following conditions: i) The assessee will pay a sum of ₹ 10 lakh on or before 05.06.2015. The assessee will submit the copy of payment of challan to the AO positively by 10th June, 2015 and accordingly AO will report to the Bench that the payment has been made. ii) The assessee will pay next installment of ₹ 10 lakh on or before the last day of the month i.e. 30.06.2015. The installments will continue on monthly basis till the disposal of the appeal, accordingly and in case revenue seeks adjournment the payment of installment will be stopped for that month only.
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