9911796707
TMI Blog2014 (7) TMI 177X X X X Extracts X X X X X X X X Extracts X X X X ..... Mrs. S. V. Bharcuha ORDER PC: This petition challenges the order dated 20 September 2013 passed by the Income Tax Appellate Tribunal ("the Tribunal") on the application for stay under Section 254(2A) of the Income Tax Act, 1961 ("the Act").The assessment year involved is A.Y. 2006-07. 2) The disputed demand in appeal for A.Y. 200607 is Rs. 297.26 crores out of which Rs. 30 crores have been p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... when the impugned order was passed the Assessing Officer had not passed order for A.Y. 2005-06. However, on 20 September 2013 the Tribunal by the impugned order while extending the stay granted earlier modified the terms by directing the petitioner to pay an amount of Rs. 30 crores out of Rs. 60 crores of fixed deposit receipt (on which revenue had lien) by depositing on or before 15 October 2013 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed was not at all justified. This is for the reason that at that point of time there was no apparent change in the facts and circumstances of the case from 17 May 2013 when the stay was granted earlier. Therefore, we are of the view that the order dated 20 September 2013 is unsustainable in law taking into consideration the facts of the present case. We therefore, modify the impugned order dated 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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