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2016 (5) TMI 47 - AT - Income TaxExtension of stay of outstanding demand - Held that:- In the facts of the present case, stay for 365 days has already been granted by the ITAT and a further stay of six months beyond the said period is requested by the assessee. In order to decide the issue arising in the present stay petition, the specific provision invoked by the assessee and required to be considered by us in the present proceedings is section 254(2A). In detail in the earlier part of this order, we extend stay for a period of six months or upto disposal of appeal whichever is earlier. While so directing the assessee is put to notice that no adjournment except under exceptional and bonafide circumstances shall be sought lest the assessee runs the risk of stay being vacated. The said order was pronounced on the date of hearing itself.
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