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TMI Blog2019 (3) TMI 1320X X X X Extracts X X X X X X X X Extracts X X X X ..... oner assessee gave rise to a tax demand of Rs. 205 crore (rounded off). The petitioner had initially paid a sum of Rs. 40 crore (rounded off) towards such demand. Subsequently, the petitioner's refunds for the earlier years amounting to Rs. 27 Crores and 71 Crores have also been adjusted towards such payment. On 31.3.2017, the Assessing Officer passed the order recording that the petitioner has already paid Rs. 40 crore which is more than 15% of the total demand of Rs. 205 crore and therefore as per the CBDT Circular dated 29.2.2016, as further revised by instructions dated 21.3.2016, stay is granted to the assessee upto the disposal of the appeal by the Commissioner (Appeals). On 12.6.2018, the Assessing Officer passed further order ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ur case for A.Y. 2013- 14 is hereby revoked and accordingly, you are requested to pay the outstanding demand for A.Y. 2008-09 and A.Y. 2013-14 within seven (7) days of receipt of this letter." 3. The petitioner approached the Principal Commissioner of Income Tax after the said order was passed by the Assessing Officer. The Pr. Commissioner also rejected the petitioner's request for stay by order dated 11.2.2019 which is also impugned in this petition in which he placed reliance on the decision of the Supreme Court in the case of Asian Resurfing of Road Agency Pvt Ltd & Ors. Vs. Central Bureau of Investigation (AIR 2018 SC 2039) and permitted the Assessing Officer to recover full demand pending the appeal. His concluding observations ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... yment of taxes. The assessee has not made out a case that it has genuine hardship on account of payment of demand or adjustment of the refund or the order is a high pitched one and, therefore, there is no justification for interfering with the stay revocation order passed by the Assessing Officer. The Assessing Officer has followed the procedure prescribed under the Act by issuing the intimation under Section 245 and also has addressed the objections raised by the assessee. Thus, in view of the facts of the case, there is no warrant for interfering with the decision of the Assessing Officer and the petition dated 31 January 2019 is rejected. The Assessing Officer shall take all steps to recover the demand in the case of the assessee not onl ..... X X X X Extracts X X X X X X X X Extracts X X X X
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