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2020 (3) TMI 1289 - HC - Income TaxStay petition Rejected - petitioner's grievance is that the Principal Commissioner of Income-tax has rejected the petitioner's application for stay without the minimum deposit of 20% ignoring Instruction No. 1914 and the subsequent Official Memorandum/Circular dated February 29, 2016 - HELD THAT:- It is incumbent on the Principal Commissioner of Income-tax to decide on the application for stay considering two questions, viz., whether the assessment is unreasonably high-pitched and whether the petitioner would be put to genuine hardship because of such assessment. However, in the present case, the Principal Commissioner's order is a non-speaking order without considering either the question of high-pitched assessment or the genuine hardship to the petitioner. Therefore, the impugned order will have to be quashed on this limited ground and the petitioner's application restored/ remanded for reconsideration. As the respondents submits that if the petitioner were to appear before the Principal Commissioner of Income-tax, Hubbali, on March 19, 2020, the petitioner will be heard afresh on the merits of its application for stay and exemption from deposit of the minimum of 20 per cent. of the demand. Writ petition is partly allowed quashing the order dated February 26, 2020 restoring the petitioner's application for stay for reconsideration in accordance with the decision of this court in Flipkart India's case [2017 (3) TMI 802 - KARNATAKA HIGH COURT] requiring the petitioner to appear before the Principal Commissioner of Income-tax, Hubballi, on March 19, 2020 without further notice.
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