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2019 (1) TMI 1060 - AT - Income TaxStay petition - Deemed dividend addition u/s 2(22)(e) - amount of Reserve and surplus of M/s. Advantage overseas Pvt. Ltd in which the assessee company was holding more than 10% of voting power - Held that:- Stay application and are inclined to stay the demand for a period a period of 90 days from the date of the stay order or disposal of the appeal whichever event occurs earlier. The stay granted to the assessee will be in operation only if the assessee fulfills the above stated conditions. Registry is directed to fix the appeal out of turn for hearing on 21.3.2019 and the date of hearing to be communicated to the parties. Assessee is also directed to file necessary paper book, if any, at an early date and adjournment should not be seeked unless for any unavoidable circumstances. Stay application of the assessee is allowed subject to the terms and conditions stated hereinabove. Stay application of the assessee is allowed subject to the terms and conditions stated hereinabove.
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