TMI Blog2019 (5) TMI 1658X X X X Extracts X X X X X X X X Extracts X X X X ..... ut any case for undue financial hardship in paying the outstanding demand and further we do not find any prima facie case on the merits of the addition in favour of the assessee and therefore it is not a fit case for grant of absolute stay. The interest of the justice would be met if the petitioner is ordered to pay monthly installment of ₹ 10,00,000/- for each month and we order accordin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for the Assessment Year 2012-13. 2. It is submitted that the demand in question had arisen in the assessment order made u/s.143(3) r.w.s. 147 of the Income Tax Act, 1961 (in short the Act ) treating the sale consideration received on the sale of shares as unexplained credit based on the report of Directorate of Investigation, Income Tax Department, Kolkata on denying exemption u/s.10 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... interest of the justice would be met if the petitioner is ordered to pay monthly installment of ₹ 10,00,000/- for each month and we order accordingly. The first installment should be paid on or before 31.05.2019 and the subsequent installment should be paid by 30th of each calendar month. The stay petition shall stand vacated, in case the assessee seeks any adjournment from hearing of appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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