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2019 (5) TMI 306 - HC - Income TaxStay of demand - high pitch assessment - commission rate of 8% in the cheque discounting activity - non consideration of petitioner grievance - Pr. CIT insists that the petitioner must deposit 20% of the disputed tax demand pending appeal - HELD THAT:- Order passed by the Commissioner is rather cryptic and devoid of reasons. In the present case, when the petitioner pointed out that in a high pitched assessment order, the A.O. has adopted the commission rate of 8% in the cheque discounting activity, which simply does not prevail, the Principal Commissioner, in our opinion, ought to have examined such grievances of the assessee before deciding whether the present case is a fit one where the requirement of deposit of 20% of the disputed tax pending appeal can be reduced. Petition is disposed of with the impugned order of Commissioner dated 29th March 2019 is quashed and set aside. The Commissioner is requested to pass a fresh order bearing in mind the observations made herein and taking into consideration the case of the petitioner. This must be done preferably before 31st May 2019. Attachment on bank account of the petitioner shall be lifted forthwith. There shall be no recovery against the petitioner for a period of two weeks, pursuant to the order passed by the Commissioner after the same is communicated to the assessee/ petitioner.
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