9911796707
TMI Blog2012 (7) TMI 153X X X X Extracts X X X X X X X X Extracts X X X X ..... PH, SC, FOR INCOME TAX P.R. RAMACHANDRA MENON, J. JUDGMENT The assessment finalized by the first respondent under Section 143(3) of the Income Tax Act in the different assessment years 2005-06 to 2007-08 as borne by Ext.P1 series assessment orders are already under challenge in Ext.P2 series appeals preferred before the second respondent. The petitioner has also preferred E ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rt, challenging the condition imposed by the appellate authority to avail the benefit of interim stay, contending that the same is onerous and rather impossible to be performed. The respondents have filed a statement through their Standing Counsel seeking to sustain the condition imposed upon the petitioner. Reference is also made to the Circular issued by the Central Board of Direct Taxes, bearin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the course of finalization of the appeals. Because of the heavy backlog, it is not possible for the appellate authority to have it finalized immediately as sought for by the petitioner and the petitioner has to wait in the queue. 4. After hearing both the sides, this Court finds that the main dispute is in respect of the disallowance made under Section 40(a)(ia) in the assessment complet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ear to be as a "guideline" or relevant norm to be followed, as given in the 1993 Circular, crux of which has been extracted by the respondents in paragraph '3' of their statement. The applicability of the said Circular has been considered again even in the year 2009 and the position has been clarified vide Ext.P8, Board's letter dated 1.12.2009. As a matter of fact, under the head 'Guidelines for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ew of the settled position of law on the point in approaching the issue with proper application of mind, this Court finds that the condition imposed by the appellate authority upon the petitioner requires modification. Taking note of the fact that, the petitioner has already satisfied the first instalment, which comes to nearly Rs.35 lakhs, this Court directs the petitioner to satisfy the next ins ..... X X X X Extracts X X X X X X X X Extracts X X X X
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