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2019 (2) TMI 1275 - HC - Income TaxCondition imposed by the Tribunal for grant of stay - HELD THAT:- While granting an interim order, what is required to be seen is as to whether the assessee made out a prima facie case, as to whether the balance of convenience is in favour of the assessee and as to whether the assessee will be put to irreparable hardship if the interim order is not granted. Further, the Tribunal does not record any finding that the assessee has not made out a prima facie case. So far as the aspect of hardship is concerned, the Tribunal itself was conscious of the fact that on account of attachment of the bank account, the assessee was put to hardship. The third aspect namely balance of convenience has not been adverted to by the Tribunal. If the entire balance outstanding is directed to be paid, it may render the appeal petitions themselves as infructuous. Therefore, while granting a reprieve to the assessee, we also intend to protect the interests of the Revenue by slightly modifying the order passed by the Tribunal. Accordingly, the writ petitions are disposed of by directing the petitioner to pay a sum of ₹ 3,00,00,000/- (Rupees three crores only) in two instalments. The first instalment of ₹ 1,00,00,000/- (Rupees one crore only) shall be paid on or before 31.1.2019. The remaining amount of ₹ 2,00,00,000/- (Rupees two crores only) shall be paid either in one lumpsum or in two instalments on or before 15.3.2019.
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