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LG Electronics India Private Limited Versus Pr. Commissioner of Income Tax & Others

Stay of the demand - Levying a penalty under Section 271(1)(c) - Held that:- Petitioner, has produced before this Court a copy of OM dated 31st July, 2017 which modifies the earlier OM, dated 29th February, 2016, issued by the Central Board of Direct Taxes (CBDT) stating that standard rate for grant of stay had been revised from 15% to 20% of the disputed demand. - The impugned order clearly makes no reference to the central issue in the pending appeal or the grievance of the Petitioner re .....

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he date of receipt of this order. - The CIT (A) shall also consider the request of the Petitioner for an expeditious disposal of the appeal. - W. P. (C) No. 6778/2017 - Dated:- 8-8-2017 - S. Muralidhar And Prathiba M. Singh, JJ. For the Petitioner : Mr. Deepak Chopra and Mr. Amit Shrivastava, Advocates For the Respondents : Mr. Asheesh Jain, Senior Standing Counsel ORDER W.P. (C) No. 6778/2017 & C.M. APPL. 28225/2017 (stay) 1. Notice. 2. Mr. Asheesh Jain, learned Senior Standing Counsel, .....

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e order dated 30th June, 2017 passed by the Assistant Commissioner of Income Tax-Circle 15(1) (hereafter Assessing Officer - AO), levying a penalty under Section 271 (1) (c) of the Income Tax Act, 1961 ( Act ). By the said order the AO raised a demand of ₹ 32,00,07,958 for the Assessment Year ( AY ) 2007-08 and directed the Petitioner to deposit the said amount on or before 31st July, 2017. 4. The Petitioner-Assessee filed an appeal against the order before the CIT (A). The Petitioner also .....

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