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2019 (3) TMI 1255 - HC - Income TaxTDS u/s 195 - liability to pay the interest u/s 201(1A) - TDS liability - HELD THAT:- Writ Petition has already been admitted. We notice that the petitioner has kept a sum of ₹ 10 Million US Dollors in escrow account which would be by and large sufficient to meet with its TDS requirement if ultimately so arises. Pending the petition, allowing the department to proceed further with the hearing of show cause notices under Sections 201(1) and 201(1A) of the Act, would lead to multiplicity of the proceedings. In order to avoid this and also in order to protect the interest of the Revenue, the Civil Application is disposed of with following directions:- i. Pending the Writ Petition, further proceedings in connection with the notices issued to the petitioner under Sections 201 and 201(1A) of the Act shall stand stayed; ii. The petitioner shall maintain the said sum of ₹ 10 Million US Dollars in escrow account and shall not withdraw the same. iii. The Writ Petition be posted for hearing on 14th June, 2019.
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