TMI Blog2015 (1) TMI 1219X X X X Extracts X X X X X X X X Extracts X X X X ..... 77; 2,47,13,365/-. We direct the petitioner to deposit the component of interest of ₹ 2,47,13,365/- within two weeks from today. Upon deposit, the Commissioner of Income Tax (Appeals)-respondent no.2 where the petitioner's appeal is pending would be decided on a priority basis within three months. The balance demand towards short deducted tax will remain stayed during the pendency of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 201 apart from liability of interest and penalty. The Court after considering the matter came to the conclusion that where the tax has not been deducted at source the petitioner could not be fastened for short deducted tax and, at best, was liable for interest and penalty only. After observing the above, the Division Bench of this Court quashed the assessment orders. For the financial year 201 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ons under Section 154 of the Act, which was disposed of by orders dated 11.07.2014 and 31.12.2014, whereby the applications were allowed in part and the demand has now been reduced to ₹ 12,76,85,755/-. After the reduction of demand, the petitioner also filed a stay application before the appellate authority, which was disposed of directing the petitioner to approach the Assessing Officer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e petitioner on a priority basis. Considering the fact that this Court in an earlier round of litigation inter-se between the parties had decided certain issues and without prejudice to what the department may contend before the appellate authority, we dispose of the writ petition with the following directions:- 1. At present there is an outstanding demand of ₹ 12,76,85,755/-, namely, ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
