TMI Blog2019 (4) TMI 1125X X X X Extracts X X X X X X X X Extracts X X X X ..... ompany is in financial hardship? - HELD THAT:- We also note that by virtue of the deposit made by the petitioner towards disputed taxes demand for the said assessment year 2009 10 to 2014 15 so far and which may be further made pursuant to the interim directions of the Tribunal, the petitioner would have discharged approximately 15% disputed tax and interest liability. We are informed that the pet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... allenged the condition imposed by the revenue authorities for staying the disputed tax and interest demand arising out of the order of assessment pending appeal before the Commissioner (Appeals). The Assessing Officer insists that the petitioner must deposit 20% of such amount within a short time, subject to which the rest of the demand would be kept in abeyance. Having heard learned counsel for t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... petitioner to enjoy stay against the recoveries in relation to the appeals pending before the Tribunal. This formula provides as under: 7. In view of the above, we grant the stay of balance demand and fix this appeal for AY 201415 on 23.04.2019 along with the other appeals for and from AY 2009 10 to 2013 14, which are already fixed for hearing on this very date. The stay of balance demand of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f hearing. 2. We are informed that the Tribunal suggests the appeals are likely to proceed for final hearing before the Tribunal on 23rd April, 2019. In the present petition, the case of the petitioner is that the outcome of said appeal before the Tribunal would virtually decide the petitioner s appeals before Appellate Commissioner for the assessment year 2016 17. According to the petitioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ering totality of facts and circumstances of the case, we require the petitioner to deposit 5% of the disputed tax of the present year in two equal installments latest by 31st May 2019 and 30th June, 2019. Subject to this condition being fulfilled, there should be no further recovery of tax and interest from the petitioner till the disposal of the appeal by the Appellate Commissioner. Petition dis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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