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2017 (1) TMI 1596 - HC - Income TaxStay of demand - pre-deposit requirement - payment of 15% of the disputed demand - Held that:- The decision of the Allahabad High Court in Jagran Prakashan ltd. v. Deputy Commissioner of Income Tax (TDS) [2012 (5) TMI 488 - ALLAHABAD HIGH COURT] is relied on by the petitioners. The Appellate Authority has noticed the said judgment in its order. However, more pertinent would be the words employed in the Circular, which refers to a decision of the Hon'ble Supreme Court or the jurisdictional High Court. In such circumstance, based on the Allahabad High Court judgment, no stay can be demanded as a matter of right by the assessee. Assessee in default - Tax Deduction at Source (TDS) having not been made for payment of interest in the deposits accepted by the petitioners, nor Form Nos.15G/15H having been produced - Held that:- assessee did not produce the documents before the Assessing Officer who has to verify it. As of now, the assessee is in default and the orders cannot be interfered with. In such circumstance, the assessee would be required to make payment of atleast 15% of the disputed demand, within a period of three months from the date of receipt of a certified copy of this judgment, failing which, the recovery proceedings shall continue.
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