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2018 (3) TMI 729 - AT - Income TaxStay of demand - Held that:- It is not in dispute that in A.Y. 2007-2008, the matter in issue have been considered by the Tribunal in proceedings under section 263 of the I.T. Act and in subsequent year also the same issues have been considered and decided. The Department filed appeals before Hon’ble Delhi High Court on which one of the issue have been admitted by the Hon’ble Delhi High Court in the Departmental Appeals. The appeal of assessee for A.Y. 2012- 2013 is pending consideration before the ITAT, Delhi Bench, in which interim stay have been granted in favour of the assessee without any condition. The assessee also filed writ petitions for both the assessment years under reference before the Hon’ble Delhi High Court for grant of interim relief during the Court holiday in which also the Hon’ble Delhi High Court has granted interim relief in favour of the assessee Considering all we direct that outstanding demand for both the years under reference shall remain stayed for a period of six months or disposal of the appeals whichever expire earlier, subject to assessee paying ₹ 10 crores to the Revenue Department, latest by 25th March, 2018 for A.Y. 2013-2014. The appeals be fixed for hearing on ‘out of turn basis’ on 23rd April, 2018. Paper books, if any, be filed as per Rules Advance paper book be supplied to the Revenue Department.
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