TMI Blog2020 (2) TMI 1290X X X X Extracts X X X X X X X X Extracts X X X X ..... tted this amount to the Income Tax Department. If the petitioner's bankers have till date, not acted on the impugned notice dated 12.02.2020, then, they need not act upon the same until they receive further orders from the ITO. The ITO, to hear the petitioner assessee and dispose of the application dated 22.01.2020 seeking, in effect, a stay on the recoveries as expeditiously as possible and in any case within a period of six weeks from today. Until the petitioner's application dated 22.01.2020 is disposed of, the ITO to not insist upon compliance with the impugned notice dated 12.02.2020. The petitioner assessee to appear before the ITO on 04.03.2020 at 10.30 a.m. and file an authenticated copy of this order. Further, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed 15.01.2020 addressed to the petitioner assessee, has made it clear that the recovery of the entire amount can be stayed pending disposal of the appeal, provided, the petitioner, pays 20% of the demanded amount, which, in the present case, totally comes to ₹ 13,37,462/- or thereabouts. Mr. Panandikar points out that the petitioner, vide his application dated 22.01.2020 has pointed out to the ITO that the petitioner, is due to get refund of ₹ 23,66,633/- from the Income Tax Department and therefore, the amount of ₹ 13,37,462/- may be adjusted from out of the refunds due to the petitioner. Mr. Panandiker submits that the petitioner's application dated 22.01.2020 is yet to be decided by the ITO and in these circumstan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Mr. Panandiker, the learned counsel for the petitioner on instructions, makes a statement that despite the impugned notice dated 12.02.2020 as yet, his bankers, have not remitted this amount to the Income Tax Department. 9. Therefore, if the petitioner's bankers have till date, not acted on the impugned notice dated 12.02.2020, then, they need not act upon the same until they receive further orders from the ITO. The ITO, to hear the petitioner assessee and dispose of the application dated 22.01.2020 seeking, in effect, a stay on the recoveries as expeditiously as possible and in any case within a period of six weeks from today. Until the petitioner's application dated 22.01.2020 is disposed of, the ITO to not insist upon ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
