TMI Blog2016 (7) TMI 752X X X X Extracts X X X X X X X X Extracts X X X X ..... Needless to state that if such an application is made for review by the petitioners, the Principal Commissioner of Income Tax / Commissioner of Income Tax would consider and dispose it in accordance with the parameters as laid down by this Court in KEC International Ltd. (2001 (3) TMI 32 - BOMBAY High Court ) for disposing applications for stay. Further, in case the petitioner files its applications for review of the two orders dated 6th April, 2016 before the Commissioner of Income Tax within a period of one week from today, the Officers of the Revenue will not act further upon the Notices issued under Section 226(3) of the Act to the petitioners' bankers till such time as the Commissioner of Income Tax disposes the petitioners' applic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -14, consequent to the passing of the assessment orders, the petitioner has filed appeals before the Commissioner of Income Tax (Appeal) [CIT(A)]. Both the appeals are pending disposal. In the meantime, the petitioners had approached the Assessing Officer to stay the demand and not treat it as an assessee in default till disposal of its appeals before the CIT(A). This stay was sought not only on the ground of financial hardship but inter alia on the ground that it had a strong prima facie case on merits, which substantially concludes the issue raised in the appeal in its favour. 5. On 6th April, 2016, the two impugned orders were passed for Assessment Years 2012-13 and 2013-14 (one each for each A.Y.) directing the petitioners to pay 15% ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted by instructions of the CBDT. The Assessing Officer has to consider the applications for stay independently and in a fit case direct a complete stay. However, in the peculiar facts and circumstances of the case, after 6th April, 2016 as the petitioners took no steps to have the order dated 6th April, 2016 reviewed by the Principal Commissioner of Income Tax / Commissioner of Income Tax. This tacit acceptance of the orders dated 6th April, 2016 led to the attachments of its Bank Accounts. Therefore, at this stage we do not disturb either the order dated 6th April, 2016 or the attachment notices dated 8th June, 2016. 7. However, as the terms of the instructions dated 29th February, 2016 issued by the CBDT itself provides that where a st ..... X X X X Extracts X X X X X X X X Extracts X X X X
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