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2015 (3) TMI 890 - HC - Income TaxStay against attachment of six bank accounts appropriating the amounts therefrom for its payments of the penalty levied rejected - petitioner is a Government of Haryana undertaking - refusal of exemption under Section 10(23C)(iv) - The tax dues have already been paid. In addition thereto, pursuant to the attachment of the accounts, an amount of about ₹ 11.27 crores has already been appropriated by the respondents-Department against a demand of ₹ 51 crores towards interest - Held that:- Two drafts amounting to ₹ 4 crores and ₹ 18 crores, we have been informed, have been prepared by the Bank for payment to the Department but the respondents have been restrained from withdrawing the same, by the interim order passed by this Court on 17.11.2014.he Bank shall, therefore, cancel the drafts and credit the same to the account of the petitioner. We are, however, not inclined to entertain the prayer for refund of the amount of about ₹ 11.27 crores, at this stage. The same must await the decision of the appeal before the CIT(Appeals). Considering the fact that the petitioner is a statutory Corporation and receives grants also from the Central Government, it would be proper that no coercive action is taken against the demand of penalty till the decision of the appeal before the CIT (Appeals). - stay granted
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