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M/s Mahalaxmi Crafts & Tissues Pvt. Ltd. Versus Asstt. Commissioner of Income Tax And 3 Others

2016 (4) TMI 89 - ALLAHABAD HIGH COURT

Pre deposit - stay of demand - Held that:- We direct that till 7 April 2016 by which date the petitioner has been directed to deposit 30% of the balance amount, no coercive steps shall be taken by the Department. However, if the petitioner fails to deposit the balance 30% of the disputed tax by 7 April 2016, the protection granted by the Court shall stand automatically withdrawn and it will be open to the Department to pursue the matter in accordance with law.

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er : Abhinav Mehrotra For the Respondent : S.C. ORDER This petition has been filed for quashing the order dated 11 March 2016 passed by the Principal Commissioner of Income Tax, Muzaffarnagar on the petition for stay of demand filed by the petitioner. It is stated that for the A.Y. 2012-13 an order was passed on 31 March 2015 determining the income at ₹ 3,20,17,882/- as against the returned income of ₹ 17,07,650/-. This resulted in tax demand of ₹ 1,31,95,160/-. Initially the A .....

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f the First Appeal, the assessee was directed to deposit 50% of the disputed tax. However, as 20% had already been deposited by the assessee, it was directed that assessee should pay the balance 30% of the disputed tax by 22 March 2016. In addition thereto, the assessee was also required to give an undertaking that it will cooperate in the early disposal of the First Appeal and will not seek any adjournment and would also provide by 14 March 2016 the details of all the bank accounts. Sri Abhinav .....

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the petitioner but should also issue a direction for early disposal of the First Appeal. Sri Piyush Agarwal, learned counsel appearing for the respondents has, however, submitted that the order passed by the Principal Commissioner of Income Tax, Muzaffarnaga does not suffer from any illegality. He has, however, very fairly stated that Commissioner of Income Tax (A) shall make all endeavours to decide the First Appeal at an early date. We have considered the submissions advanced by the learned c .....

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