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2016 (2) TMI 900 - AT - Income TaxExtension of stay - Held that:- On a consideration of the peculiar facts and circumstances of the case and the position of law as considered including the arguments of the parties before us on the issues involved we find that non-disposal of the appeal in the facts of the present case is solely on the grounds of adjournments sought by the Revenue on each of the dates the appeal came up for hearing; Where no arguments assailing the assessee’s claim that prima facie the issue is covered in assessee’s favour having been advanced by the Revenue. Nothing has been placed before us by the Revenue disputing the assessee’s claim of irreparable loss to the running of the business has been placed before us nor there is any rebuttal on the plea of Liquidity crunch faced by the assessee. In these above peculiar facts we are of the view that the present case is a fit case for extending stay for a further period of 3 months or disposal of appeal whichever is earlier. We find that the appeal is listed for hearing on 16th Feb. 2016. The Revenue is directed to file Paper Books if any well in advance. Needless to state that no adjournment on any reasonable ground shall be sought by the assessee.
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