TMI Blog2017 (11) TMI 1226X X X X Extracts X X X X X X X X Extracts X X X X ..... should be deposited and appropriate documents should be executed in favour of the Department securing the interest of Revenue and the petitioner providing immovable property security for sum of ₹ 2 Crores, further demand of tax and penalty as claimed in the assessment orders shall remain stayed. It is represented by the learned counsel for the petitioner that the fixed deposits are in the names of the father-in-law and mother-in-law of the petitioner and the petitioner will make appropriate arrangements for them to give their No objection certificate for encashment of those fixed deposits. The above direction shall be complied with within a period of three weeks from the date of receipt of copy of this order. - W.P.No.28294of 2017 a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... scussed in para (B) hereunder. (B) In a situation where. (a) the assessing officer is of the view that the nature of addition resulting in the disputed demand is such that payment of a lump sum amount higher than 20% is warranted (e.g. in a case where addition on the same issue has been confirmed by appellate authorities in earlier years or the decision of the Supreme Court or jurisdictional High Court is in favour of Revenue or addition is based on credible evidence collected in a search or survey operation etc.) or (b) the assessing officer is of the view that the nature of addition resulting in the disputed demand is such that payment of a lump sum amount lower than 20% is warranted (e.g. In a case where addition on the sa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xed deposit, has been retained by the 1st respondent. Considering the facts of the case and that already a sum of ₹ 63,83,854/- has been recovered and ₹ 95 lakhs is available with the Department in the form of fixed deposit, the following order would meet the ends of justice, that is to say, protect the interest of the Revenue as well as to give temporary reprieve to the assessee pending disposal of the appeal. 5. Accordingly, the Writ Petition is disposed of, with the slight modification to the impugned order (i) by permitting the 1st respondent to encash the fixed deposit of ₹ 95 lakhs together with interest accrued till the date of encashment and reckon the payment towards the disputed tax; (ii) the petitioner is dir ..... X X X X Extracts X X X X X X X X Extracts X X X X
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