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2016 (5) TMI 96 - AT - Income TaxStay - Penalty under section 271C - tds u/s 194H - whether the assessee is required to make any TDS under section 194H is pending adjudication before the Hon’ble Supreme Court of India as divergent views have been expressed by various High Courts in India? - Held that:- The appeals on merits are coming up for hearing before the Hon’ble Supreme Court in the month of April, 2016 and taking due note of the same, this Tribunal has already granted stay of collection of the outstanding tax demand under section 201(1) and the interest thereon under section 201(1A) of the I.T. Act after also taking note of the fact that the assessee has already paid 40% of the demand as directed by the jurisdictional High Court. We find that these stay petitions are against the collection of the demand of penalty under section 271C of the I.T. Act which are consequent to the orders under section 201(1) and 201(1A) of the I.T. Act. As the assessee has already paid 20% of the demand of penalty under section 271C of the I.T. Act, we are satisfied that balance of convenience is in favour of the assessee. Therefore, we deem it fit and proper to stay the balance of the demand for a period of 180 days from today or till the disposal of the appeals whichever is earlier. The Registry is directed to post the appeals for hearing on 8th June, 2016. Since the date is announced in the open Court before both the parties, no fresh notice is need be given. Accordingly, stay petitions of the assessee are allowed.
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