Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2019 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (3) TMI 1069 - HC - Income TaxStay petition on recoveries - additional time to deposit demand - HELD THAT:- In our order dated 28th February, 2019, we had directed the Petitioner to present revised time table for depositing amount on affidavit. Pursuant to such directions, the Petitioner has filed an affidavit dated 7th March, 2019, in which, revised time schedule for meeting with the requirements of deposit of ₹ 10 Crores. We find that the additional time as requested, can be granted, however, subject to certain conditions. We are informed that the parent company of the Petitioner has to receive a subsidy from the State of Maharashtra for ₹ 48 Crores. The subsidy is not yet received. If such an amount is received, the Petitioner should deposit the entire amount of ₹ 10 Crores minus what is already recovered by the department, as soon as subsidy is received. If the Petitioner misses any if the installments, it would be open for the department to recover the tax.
|