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2019 (7) TMI 366 - AT - Income TaxGrant of ad-interim stay of outstanding demand - assessee contended that demand deserves to be stayed as additions are not sustainable on the strength of earlier years’ order - coercive measures in the shape of auctioning assets of the assessee for recovery of outstanding demand - adjustment of refund with demand - HELD THAT:- Revenue intend to adjust the refund of earlier years or subsequent years. Considering the above situation, we do not see any urgency of passing any order staying the outstanding demand at this stage, because, the application of the assessee for grant of stay is pending before the Pr.CIT. It is for the ld.Pr.CIT to look into circular of the CBDT cited by the ld.counsel for the assessee, which is pending with the Revenue and other circumstances. At this stage, we do not deem it necessary to exercise our discretion in view of the above discussion and stay petition is dismissed. The assessee will be at liberty to file fresh application after disposal of its application by Pr.CIT. No merit in the alternative contentions of the assessee for protecting it from the recovery of the demand till the disposal of the application by Pr.CIT by 10 days thereafter, because, the ld.CIT-DR was categorically stated that except adjusting the refund, Revenue is not going to take any other steps. The assessee has agreed in the past of such conditional order. Therefore, this stay petition is dismissed.
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