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2015 (5) TMI 550 - MADHYA PRADESH HIGH COURT

2015 (5) TMI 550 - MADHYA PRADESH HIGH COURT - TMI - Stay the demand of income tax, interest and penalty - Held that:- On due consideration of the submissions of the learned counsel for the parties and considering the fact that the appeals against the assessment orders for the assessment years 2003-04 to 2010-11 are pending before the Income Tax Appellate Tribunal, Indore and at present Bench of ITAT at Indore is not functioning, we direct the learned President of the Income Tax Appellate Tribun .....

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d of four weeks from today, no coercive measures for recovery of the demand, including attachment of bank account, will be taken till the stay application is decided - Writ Petition No.1380/2015 - Dated:- 2-3-2015 - P.K. Jaiswal And Alok Verma JJ. For the Appellant : Shri Manoj Munshi For the Respondent : Shri R.L. Jain, learned Senior Counsel with Ms. Veena Mandlik Heard. 2. By this writ petition under Article 226 of the Constitution of India, the petitioner, who is Development Institute engage .....

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exure P/1) till the Income Tax Appellate Tribunal hears and decides the appeal on the ground that the Income Tax Appellate Tribunal, Bench at Indore is not functioning. 3. Learned counsel for the petitioner submits that the demand has arisen pursuant to the lease premium liability by considering the same as revenue receipt instead of accepting it as tax liability of the assessee. The petitioner - assessee is a State Government undertaking, which is engaged in the activity of development of indus .....

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r of Income Tax (Appeals). As per Annexure P/1 dated 13.01.2015, Assistant Commissioner of Income Tax vide letter dated 29.12.2014 requested the petitioner to make payment of 50% of outstanding demand and at least 25% thereof by 31.12.2014, but the said outstanding demand has not been paid so far. The amount of ₹ 5.8 crores is outstanding against the demand raised as per assessment orders for the assessment years (2003-04 to 2010-11) and the amount of ₹ 10.8 crores is outstanding aga .....

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nt has considered the lease premium as capital receipts and did not demand any income tax thereon. Further the payment of tax shall adversely affect the operations of the petitioner and development work shall suffer and therefore, prayed that the respondent be directed not to take any coercive action till all the appeals are decided by the Income Tax Appellate Tribunal, including the appeal against pending, which is pending before the Commissioner of Income Tax (Appeals). 5. In reply, Shri R.L. .....

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