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2020 (4) TMI 456 - HC - Income TaxStay petition - Reopening of assessment u/s 147 - whether a prima facie case had been made out by the petitioner seeking stay, we have given our attention to the assessment order dated 21st December, 2019? - HELD THAT:- Prima facie on the basis of coded language diary entries and retracted uncorroborated statement of an alleged beneficiary, perhaps, the additions made by the Assessing Officer is highly questionable. We feel that instead of taking a mechanical approach by directing the petitioner to pay 20% of the tax demand or providing installments, respondent Nos.1 and 2 ought to have considered the prima facie case, balance of convenience and financial hardship, if any, of the petitioner. Stay Granted - Let the appeal be decided by the Commissioner of Income-Tax (Appeals) within a period of four months from the date of receipt of an authenticated copy of the order.
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