TMI Blog2018 (12) TMI 1495X X X X Extracts X X X X X X X X Extracts X X X X ..... ld that:- Assessee was given opportunity for cross examining Shri. S.D. Sethu. Shri. S.D. Sethu had completely denied paying any money other than C25,00,000/- on 07.01.2008 and feigned ignorance of any other transactions. That apart, lower authorities had also examined the Village Administrative Officer Shri. R. Devaraj who had stated that land was converted to saleable plots, when he conducted in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hri Abraham P. George, Accountant Member And Shri Duvvuru RL Reddy, Judicial Member For the Petitioner : None For the Respondent : Shri. AR V Sreenivasan, JCIT ORDER PER ABRAHAM P. GEORGE, ACCOUNTANT MEMBER Assessee through this stay petitions pleads for stay of recovery of tax and interest aggregating C43,77,773/- for assessment year 2008-09 and C80,60,728/- for assessme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sethu and Shri Palani for selling 25.36 acres of land for a consideration of C1,91,50,575/-, and had handed over the possession of the property and had received a sum of C50,00,000/- on the date of agreement. Assessee claimed that deposits made on various dates in the bank account, mentioned hereunder represented consideration received from Shri. S.D. Sethu and Shri. Palani. Da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stay petitions filed by the assessee. Contention of the assessee before lower authorities was that the deposits made by him in his bank account were out of the consideration of C1,91,50,575/- received in installments from Shri. S.D. Sethu and Shri. Palani, on sale of his agricultural land to them. Lower authorities had examined both these persons. Assessee was also given opportunity for cross exa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the opinion that assessee has been unable to establish a prime facie case. Financial difficulty if any faced by the assessee is also not demonstrated. We are therefore not inclined to grant a stay sought by the assessee 6. In the result, the stay petitions filed by the assessee are dismissed. Order pronounced in the open court at the time of hearing on Friday, the 9th November, 2018 at Chen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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