2012 (11) TMI 320

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..... Meena, Accountant Member The appellant is a Limited Company engaged in the business of manufacturing of sprinkler irrigation and drip irrigation P.P. valves and HDPE pipes used for irrigation purposes. The return of income for A.Y. 07-08 was filed on 31.10.2007 showing total income at Rs.1,33,69,460/- after claiming deduction of Rs.2,47,58,221/- u/s.80(IA)(4). The ld. A.O. completed assessment in .....

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..... 23.03.2011 and created demand of Rs.3,16,65,698/-. The tax calculation is as under:     Rs. Demand as per assessment order u/s 143(3) Without interest u/s 234B & 234C   3,16,65,698/- Less:     TDS 11,52,566/-   Advance & Self Asstt. Tax 1,22,65,000/- 1,34 ,17,566/-   -------------------- --------------------     1,82,48,132/- Amoun .....

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..... facts of the case, we stay the demand till the disposal of appeal which are coming up for hearing of 17.10.2012 in all the assessment years i.e. A.Y. 07-08, 08-09 & 09-10 or for the six month from the order of stay whichever is earlier. 4. We want to make it clear that the assessee should not seek adjournment of hearing without compelling and justifiable reason and if a paper book is required to .....

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