TMI Blog2015 (5) TMI 933X X X X Extracts X X X X X X X X Extracts X X X X ..... all deposit further a sum of ₹ 20 Crores on or before 31.03.2015 before first respondent -Assessing Officer. (b) Petitioner- assessee shall deposit further sum of ₹ 40 Crores before first respondent- Assessing Officer on or before 30.04.2015. (c) For the balance amounts as demanded under demand notice dated 18.02.2015 petitioner shall furnish Bank Guarantee/s in favour of first respondent- Assessing Officer on or before 30.04.2015 kept alive till disposal of the appeal by the CIT (Appeals)-12 - Writ Petition Nos. 12690/2015 & 12691/2015 (T-IT) - - - Dated:- 26-3-2015 - Aravind Kumar,J. For the Appellants : Sri Anuj Kumar Singh, Sr. Manager Dr Abhishek Manu Singhvi, Sr. Counsel, Sri Kavin Gulati, Sr. Counsel, Sri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ner - assessee is before this Court. 4. Though learned Senior Counsel appearing for petitioner has made a valiant attempt to persuade this Court to examine the issue of chargeability of tax, this Court refrains from expressing any opinion on the said issue for the simple reason that jurisdictional appellate authority is now seized of the matter or in other words appellate authority being the fact finding authority is examining the correctness or otherwise of the assessement order dated 18.02.2015-Annexure-A. Sri K.V.Aravind, learned panel counsel appearing for respondents has also made attempts to sustain the assessment orders passed by first respondent and the demands raised pursuant to same. 5. As already observed herein above, with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eals) power to grant stay, it has been clearly held that inherent power to grant or not to grant stay is conferred on him under Section 246A of the Act. In that view of the matter, impugned order dated 23.3.2015 (Annexure S in both petitions) which has been passed by CIT (Appeals) cannot be sustained particularly when no reasons are assigned at all. Since, both appeal and application are being restored to CIT (Appeal) for being disposed of on merits within a timeframe. Interest of the revenue also requires to be protected by putting the petitioner on terms as this would meet the ends of justice. 8. In that view of the matter, I proceed to pass the following: ORDER (1) Writ petitions are hereby allowed in part. (2) Order dated 23 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ued, order passed by first respondent in exercise of the power under Section 220(6) of the Act dated 24.03.2015 (Annexure-T in both petitions) would not survive and parties are at liberty to work out their remedy before CIT (Appeals). (5) It is needless to state that in the event of petitioner succeeding in the appeal, it would be at liberty to file necessary application before the authorities for return of the bank guarantee/s and same shall be considered by first respondent and appropriate orders be passed in accordance with law. (6) Sri K.V.Aravind, learned panel counsel, on instructions from respondent No.2 who is present in Court submits that in the event of petitioner succeeding in the appeal, revenue would refund the amount of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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