Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2020 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (5) TMI 264 - HC - Income TaxStay of demand - CIT-A disposed of the application with a direction to the assessee to pay 10% of the disputed amount - HELD THAT:- Authority while deciding on the application for stay was required to take note of the judgments passed in an appropriate manner. Guidelines are not exhaustive and discretion that is available to the Assessing Officer or the Authority considering the application for stay could be exercised taking note of the facts made out and the strength of the case made out in the appeal. It would be appropriate to modify the order. The submission of learned counsel for the assessee that partial modification of the order of stay would be acceptable, the impugned orders are modified making it clear that the observations made herein are not to be treated as findings on merits. Accordingly, the orders are set aside. There would be a stay of demand for the Assessment Year 2017 – 2018 during the pendency of the appeal filed challenging the order of assessment of the year 2017 -2018, subject to the assessee paying 10% of the demand out of which 5% would be paid within 31.03.2020 and the remaining 5% would be paid in two equal installments in the months of April 2020 and May 2020.
|