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2019 (3) TMI 732 - ITAT MUMBAIStay of demand - recovery proceeding - Assessee referring to the cash flow for the next three month and six months submitted that the net cash flow from operations will be at meagre and therefore the assessee is really in short of funds for making full payment of outstanding demand - HELD THAT:- Considering the submissions of both the parties and taking the financial conditions and the issue in appeal into consideration, we grant stay of outstanding demand for the A.Y. 2014-15 for a period of 180 days or till the disposal of appeal whichever is earlier subject to payment of 15% of the outstanding demand on or before 31st March 2019. Registry is directed to fix the appeal for hearing on 09th April, 2019 along with the appeals for the A.Y. 2012-13 and A.Y. 2013-14. We make it clear that the stay granted by this order gets vacated in the event of the assessee seeking adjournment without just and reasonable cause.
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