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2020 (4) TMI 168 - HC - Income TaxStay petition - recovery proceedings - petitioner is willing to deposit 15% of the demanded amount in case the draft prepared by the Bank in favour of the income tax authorities are ordered to be not encashed and account is regularised - HELD THAT:- The appeals were preferred on 16th March, 2020. Though the period of limitation had not expired, but going through the circumstances resulting into preparation of the demand drafts as noticed above, the working of the Cooperative Society has come to a halt. Instead of directing the Tribunal to decide the application firstly, I deem it appropriate to issue directions to the Tribunal to decide the appeals within some time line and in order to enable the petitioner it seems appropriate to direct the income tax officer not to press for the encashment of the demand drafts, provided the petitioner deposits at least 30% of the demanded tax within a period of one week from today. On receipt of the aforementioned tax, the demand drafts would be cancelled. The petitioner shall be permitted to transact the Bank account maintained with the Bank. The Tribunal in such circumstances shall endeavour to decide the appeals within a period of six months. Till such time this arrangement will continue.
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