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2019 (4) TMI 1377 - ITAT AHMEDABADStay on the recovery of the outstanding demand - additions made on account of unexplained cash credit u/s 68 and interest on such unexplained cash credit - HELD THAT:- We are inclined to grant a stay of outstanding demand subject to the deposit of ₹ 20,00,000/- towards the outstanding demand as discussed above in two installments. The first installment of ₹ 10 Lacs shall be deposited on or before 28th February 2019 and the remaining installment of ₹ 10,00,000/- will be deposited on or before 15th March 2019. It is also important to note that after making the aforesaid payment of ₹ 20 lacs the total payment of the outstanding demand shall constitute 52.06% of the total demand including interest. Accordingly, we direct that the said outstanding demand be kept in abeyance till the disposal of the appeal by the Tribunal or for six months whichever is earlier. We also direct the registry to fix the appeal of the assessee for hearing out of turn on 12th April 2019, which is a date agreed by the ld Representative of both the sides as convenient to them. The assessee shall not seek any adjournment of the case on the date of hearing and if it does so, the bench hearing the appeal of the assessee will be at liberty to revoke this order granting the stay of recovery of the outstanding demand.
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