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2020 (3) TMI 1246 - ITAT CHENNAIStay petition - petitioner is a charitable trust duly registered u/s.12A - HELD THAT:- We are of the considered opinion that it is not a fit case for grant of absolute stay since it requires detailed examination of materials placed before the AO to come to conclussion as to whether the provisions of Section 13 (1) (c) of the Act is applicable or not. However, keeping in view that it is charitable trust, running educational school, we are inclined to grant stay of demand subject to payment of monthly installment of 2,00,000/-. The first installment shall be paid on or before 31st March, 2020 and the subsequent installment shall be paid on or before the last day of each calendar month. This stay petition shall stand vacated, in case the assessee seeks any adjournment from hearing of appeal without any just and reasonable cause. The appeal is posted for hearing on 31.03.2020. The stay petition filed by the assessee is allowed on the above lines.
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