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2016 (10) TMI 1254 - HC - Income TaxStay of demand - condition to deposit 15% of the outstanding demand, for stay of remaining demand - attachment of all movable and immovable properties - HELD THAT:- Pursuant to search operations, assessments were carried out, which has resulted into substantial tax demands. Merely because the petitioner has filed appeals against such order of assessment by itself, would not permit us to grant blanket stay. Whether such demand pending appeal should be stayed, must be dependent upon facts of each case. The second contention of the petitioner however warrants consideration. If the properties are under attachment, naturally it would be difficult for the petitioner to raise funds for payment of substantial taxes. If on the other hand, the extension of attachment made under order dated 21.01.2016 has expired with efflux of time, the grievance of the petitioner would be substantially reduced. In such a situation, except for granting additional time for depositing the tax, no further relief would be necessary.
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