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2017 (12) TMI 1783 - AT - Income TaxStay of recovery - penalty u/s 271(1)(c) - HELD THAT:- Without going into merits of the appeal, considering the fact that the issue is in respect of penalty levied u/s.271(1)(c) of the Act and the assessee has paid ₹ 10 lakhs out of the demand of ₹ 50 lakhs and the appeal is posted for hearing on 02.01.2018, the assessee is granted stay of recovery of the balance of the disputed penalty for a period of two months from today. In the event that the assessee seeks an adjournment on 02.01.2018 being the date of hearing of the appeal, this stay granted to the assessee shall stand vacated.
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