TMI Blog2020 (5) TMI 527X X X X Extracts X X X X X X X X Extracts X X X X ..... consideration of application for stay and further exercise of power of the PCIT keeping in mind the circular bearing No.1914 as amended on 21.5.2017, 29.2.2016 and 31.7.2017, the request of the petitioner is to be considered in a meaningful manner. In fact, the power of granting stay has been considered by the High Court of Judicature at Madras in the case of M/s. Shriram Finance [ 2019 (3) TM ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mpugned order rejecting the request for stay by respondent by its order dated 26.02.2020 at Annexure-A. The petitioner has also sought for a writ of mandamus to direct the respondent to dispose of the appeal that has been filed against the assessment order expeditiously within the time-frame to be fixed. 2. The petitioner submits that he has a good case on merits and in light of equity of facts ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 019 decided on 01.03.2019) as well as the order of this Court in the case of Flipkart India Private Limited v. The Assistant Commissioner of Income Tax (W.P.Nos.1339-1342/2017 decided on 23.02.2017). 4. Learned counsel appearing for the Revenue submits that the petition is premature and no doubt, the Principal Commissioner of Income Tax (PCIT) has not passed any order on the representatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... certain guidelines have been referred to in para-5 which may be taken note of. So also the manner of exercise of power of the Principal Commissioner of Income Tax is detailed in Flipkart s case (supra) at paras 18 and 19, which needs to be kept in mind. This Court refrains from expressing any opinion on the merits of contentions raised, but reiterates that the PCIT is to exercise power conferred u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l Commissioner of Income Tax and the request of petitioner as contained in the representation dated 21.02.2020 would be disposed of in light of the observations made above. 8. The PCIT to dispose of the representation of the petitioner within a period not later than one week from the date of appearance of the petitioner as noticed above. All contentions of parties are kept open. This petitio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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