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2019 (4) TMI 1125 - BOMBAY HIGH COURTStay of demand - demand arise due to non set of past losses - appeal of earlier year pending before tribunal in which stay was granted by ITAT - petitioner must deposit 20% of such amount within a short time - whether petitioner company is in financial hardship? - HELD THAT:- We also note that by virtue of the deposit made by the petitioner towards disputed taxes demand for the said assessment year 200910 to 201415 so far and which may be further made pursuant to the interim directions of the Tribunal, the petitioner would have discharged approximately 15% disputed tax and interest liability. We are informed that the petitioner company is in financial hardship. Considering totality of facts and circumstances of the case, we require the petitioner to deposit 5% of the disputed tax of the present year in two equal installments latest by 31st May 2019 and 30th June, 2019. Subject to this condition being fulfilled, there should be no further recovery of tax and interest from the petitioner till the disposal of the appeal by the Appellate Commissioner. Petition disposed of accordingly.
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