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2014 (11) TMI 170 - AT - Income TaxStay applications on outstanding demand - assessment of trust as Association Of Persons (AOPs) - all the mutual fund beneficiaries were treated as AOPs. - Held that:- Following the decision in Indian Corporate Loan Securitisation Trust 2008, C/o IL & FS Trust Co. Ltd. Versus Income Tax Officer [2013 (8) TMI 183 - ITAT MUMBAI] - the assessee has a prima–facie case for grant of stay of the demand and there are various issues which warrant adjudiction and in such a situation, stay should be granted - since the date of hearing is announced in the open Court – Stay granted.
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