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2019 (5) TMI 790 - AT - Income TaxStay of outstanding demand - recovery proceedings - HELD THAT:- On careful verification of the financial statements submitted by the assessee, the projected inflow of funds for the month of March’19 would be ₹ 138,96,85,812 as against the projected payments of ₹ 138.50 crores under various heads. The assessee expressed its inability to make any payment of tax. The assessee did not submit the balance sheet to verify the other receivables as on the date of hearing. From the funds available with the assessee, we are of the view that the assessee has no financial difficulty to make the payment of outstanding demand and it is also the responsibility of the assessee to make the payment of taxes due. Therefore, in our considered view, AR did not make out a case for granting of stay of demand and hence, we are not inclined to grant the stay. SA filed by the assessee is dismissed.
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