TMI Blog2018 (3) TMI 729X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee also filed writ petitions for both the assessment years under reference before the Hon’ble Delhi High Court for grant of interim relief during the Court holiday in which also the Hon’ble Delhi High Court has granted interim relief in favour of the assessee Considering all we direct that outstanding demand for both the years under reference shall remain stayed for a period of six months or disposal of the appeals whichever expire earlier, subject to assessee paying ₹ 10 crores to the Revenue Department, latest by 25th March, 2018 for A.Y. 2013-2014. The appeals be fixed for hearing on ‘out of turn basis’ on 23rd April, 2018. Paper books, if any, be filed as per Rules Advance paper book be supplied to the Revenue Department. - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l for lease agreements executed prior to 01st April, 2007. 27,27,45,720 5,79,57,775 2,80,90,775 8,60,48,549 Disallowance on account of Supplement lease rental for lease agreements executed prior to 01st April, 2007. 5,07,89,21,322 1,07,92,57,921 52,30,91,008 1,60,23,48,930 Disallowance of claim for set-off of brought forward business loss and unabsorbed depreciation of A.Y. 2012-13. 1,70,30,33,727 36,18,90,355 17,53,99,770 53,72,90,124 Total 10,71,79,14,547 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 014. 3.2. Learned Counsel for the Assessee as regards A.Y. 2014-2015 submitted that the issue are same and submitted that the returned loss is ₹ 454,56,85,822. He has filed a chart of the same and submitted that if the order of the Tribunal for earlier years are applied, then, there would be a refund of ₹ 38.70 crores. The chart filed by the Learned Counsel for the Assessee is reproduced as under : Particulars Amount (in INR) Returned Loss (45456,85,822) Additions/ disallowances made/sustained by CIT(A): (a) Lease rentals disallowed u/s 37(1) 39205,55,831 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) Add: 234C 24,11,861 Net tax Payable 1 Refundable (3870,36,391) 3.3. Learned Counsel for the Assessee further submitted that on filing of the appeals for both the years with Stay Applications, same were listed for hearing on 06th March, 2018, however, the Revenue Department has frozen the bank accounts of the assessee with ICICI Bank and HDFC Bank. The assessee has preferred Writ Petition Nos.2040 and 2041 of 2018 before the Hon ble jurisdictional Delhi High Court and the Hon ble Delhi High Court vide order dated 03rd March, 2018 lifted the attachment/frozen of the assessee s bank account with both the above ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... titioner, brought its ability to finance its day-to-day operations to a virtual standstill. 4. This Court does not propose to discuss the merits of the case for the simple reason that admittedly the Petitioner s applications for stay of demand for the two AYs in question are listed before the ITAT on 6th March, 2018. The Court is of the view that with the Revenue having notice of the above fact it need not have taken precipitate action to freeze the aforementioned bank accounts of the Petitioner and could have awaited the orders of the ITAT. 5. Consequently, the Court lifts the attachment/'freezing of the Petitioner s accounts with the HDFC Bank and the ICICI Bank pursuant to the impugned demand, and also restrains the Reven ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... considered and decided. The Department filed appeals before Hon ble Delhi High Court on which one of the issue have been admitted by the Hon ble Delhi High Court in the Departmental Appeals. The appeal of assessee for A.Y. 2012- 2013 is pending consideration before the ITAT, Delhi Bench, in which interim stay have been granted in favour of the assessee without any condit on The assessee also filed writ petitions for both the assessment years under reference before the Hon ble Delhi High Court for grant of interim relief during the Court holiday in which also the Hon ble Delhi High Court has granted interim relief in favour of the assessee (supra). The appeals of the assessee are yet to be fixed for hearing and are pending before the Tribuna ..... X X X X Extracts X X X X X X X X Extracts X X X X
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