9911796707
TMI Blog2019 (9) TMI 1240X X X X Extracts X X X X X X X X Extracts X X X X ..... GH COURT - TMI X X X X Extracts X X X X X X X X Extracts X X X X ..... the First Appellate Authority (2nd respondent herein), in a stay application preferred by the petitioner before the said authority, a conditional stay was granted subject to the petitioner paying 20% of the tax amount attributable to the additions to income made under Section 68 of the Income Tax Act. Apparently, dissatisfied with the said order of the First Appellate Authority, the petitioner app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ioner in the assessment order. 4. I have heard the learned counsel appearing for the petitioner and also the learned Standing Counsel appearing for the respondent Income Tax Department. 5. On a consideration of the facts and circumstances of the case as also the submissions made across the Bar and taking note of the judgment of this Court in Mavilayi Service Co-operative Bank Limited v. Commis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , further proceedings including those pursuant to Exts.P7 and P8 communications, for recovery of amounts confirmed against the petitioner by Ext.P5 order, shall be kept in abeyance on condition that the petitioner pays an amount equivalent to 1% of the tax demanded on the additions made in the assessment order under Section 68 of the Income Tax Act, within one month from today. It is made clear ..... X X X X Extracts X X X X X X X X Extracts X X X X
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