Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2013 (2) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (2) TMI 207 - HC - Income TaxStay application rejected - petitioner directed to pay a sum of Rs.56 crores by 31.01.2013 and thereafter the assessee shall pay Rs.10 crores per month by the last date of the month till the demand of Rs.222.76 crores was completely paid out - Held that:- While in the previous year when similar issues were raised only 22% of the entire duty demanded was required to be deposited while the balance was stayed, in the present year the Tribunal has been unduly harsh on the petitioner by requiring it to deposit/adjust 60% of the tax demanded which also includes a sum of Rs.150 crores which pertain to covered issues. Since the Tribunal in the earlier years on the very same issue has conclusively indicated in the order dated 03.02.2012 that the petitioner had a prima facie case, the Tribunal in the present case ought to have also held accordingly. If that were to be the position, then the Tribunal ought not to have deviated from the practice adopted in the previous year by requiring the petitioner to make a deposit of the said sum of Rs.56 crores in addition to the adjustment of Rs.166 crores. Thus direct that no further recoveries be made against the petitioner till the disposal of the appeal by the Tribunal.
|