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2021 (1) TMI 1022 - AT - Income TaxStay of demand - exemption u/s.11 denied - assessee has violated provisions of section 13(3) r.w.s. 13(2)(a) for the reason that return required to be filed u/s.139(1) was not filed within the due date for filing return of income, accordingly, entire income has been brought to tax - HELD THAT: - We find that assessee has not paid any amount towards outstanding demand created by Assessing Officer . As per the amended provisions of section 254 (2A) of the Act, before granting any stay, assessee is required to deposit at least 20% of disputed tax. When this provision is apprised to learned AR for the assessee , he pleaded that assessee’s financial condition is very weak and it cannot service disputed demand. We, therefore, considering fact that assessee is not willing to pay any amount towards disputed demand, reject the stay application filed by assessee. However, in order to give early hearing to assessee, appeal filed by assessee is posted for out of turn hearing on 09.02.2021.
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