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TMI Blog2015 (1) TMI 15X X X X Extracts X X X X X X X X Extracts X X X X ..... sposal of the petitioner's appeal by the Commissioner of Income Tax (Appeals) from the reassessment order dated 24 March 2014 passed for the Assessment Year 2008-2009. The demand to the extent of Rs. 7.26 Crores was stayed as it emanated from an assessment order dated 30 November 2010 passed in regular assessment proceedings which had been set aside by order dated 27 August 2014 of the ITAT. 2] The petitioner's grievance is that the impugned order dated 8 December 2014 is without considering the petitioner's prima facie case on merits. Moreover it has without any reasons varied the stay order dated 10 October 2014 passed by the Joint Commissioner of Income Tax which directed the petitioner to pay 50% of the demand till the disp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e prejudice of the petitioner had not indicated any reason justifying the variation. 4] Mr. Suresh Kumar, learned counsel for the respondentsrevenue states that the impugned order calls for no interference. This is for the reason that not every grantinaid received by an Assessee would necessarily be on capital account. This is for the reason that the same would depend upon the terms and conditions of the grant. In view of the above, he submits no interference is called. 5] This Court, in KEC International Ltd. V. B.R. Balakrishnan 251 ITR 158, has laid down the following guidelines to be kept in mind by the Authorities while disposing of the stay applications : "(a) While considering the stay application, the authority ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ameters are not exhaustive. They are only recommendatory in nature". 6] From the above, it is clear that one of the factors to be considered while granting stay is to examine the question in appeal before directing the petitioner to deposit the full amount or pay the amount partially till the disposal of the appeal by the Commissioner of Income Tax (Appeals). The Commissioner of Income Tax while passing the impugned order has clearly ignored the decision of this Court laying down the parameters to be kept in mind while disposing of the stay applications in KEC International (supra). 7] In the above view, we set aside the impugned order dated 8 December 2014. The petitioner is at liberty to file a fresh representation before the Commission ..... X X X X Extracts X X X X X X X X Extracts X X X X
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