TMI Blog2018 (11) TMI 1435X X X X Extracts X X X X X X X X Extracts X X X X ..... comply with the order in its letter and spirit till the disposal of the main appeal by the Tribunal. Therefore, we do not appreciate the conduct of the assessee in abruptly failing to comply with the conditional stay order dated 12.01.2018 and filing fresh set of stay petitions, which are not maintainable and therefore that is one more reason to reject the stay petitions apart from the reasons assigned by the Tribunal. It is well open to the assessee to seek for other prayers before the Tribunal, if so advised. It is submitted by the learned Senior Counsel for the assessee that the application filed for modification of the order dated 12.01.2018 is pending. We refrain from making any observation at this juncture and it is well open to t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he other deduction under Section 37(1) of the Income Tax Act, 1961. Referring to Para 71 of the order passed by the Tribunal in I.T.A.No.2107/Chny/2008 dated 28.08.2018, it is submitted that so far as the claim for deduction under Section 37(1) of the Act with regard to the services actually rendered by motorcar dealers to the assessee company, the Tribunal has held in favour of M/s.United India Insurance Company Limited and therefore to that extent, the Tribunal should have considered the assessees' case for grant of appropriate interim orders. 3. Ms.Hema Muralikrishnan, learned Senior Standing Counsel who accepted notice on behalf of the respondents submitted that the second set of stay petitions filed by the assessee, in which the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... #8377; 15.00 Crs, the assessee is granted an installment scheme of ₹ 7.00 Crs. per month representing an installment of ₹ 1.00 Cr. for each of the assessment years in respect of the appeals which the Stay Petitions have been filed. The first installment is to paid on or before 16.01.2018 and the subsequent installments to be paid on or before 15th of every succeeding month. The appeals of the assessee have been filed on 08.01.2018 and consequently, Registry is directed to post the appeals of the assessee on 19.03.2018. No notice to be issued to the parties as the order has been pronounced in the open court. 6. In the result, the Stay Petitions filed by the assessee are partly allowed. 6. In terms of the above order, th ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
