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TMI Blog2020 (3) TMI 1289X X X X Extracts X X X X X X X X Extracts X X X X ..... Shashank , Advocates For the Respondents : Y. V. Raviraj , Advocate JUDGMENT B. M. SHYAM PRASAD J.- 1. The learned counsel for the petitioner and the learned counsel, Sri Y. V. Raviraj, who accepts notice for the respondents Nos. 1 and 2 are heard. 2. The petitioner is aggrieved by the order dated February 26, 2020 passed by the Principal Commissioner of Income-tax, Hubballi, rejecting his a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Income-tax in the light of Instruction No. 1914 and the subsequent Official Memorandum/Circular dated February 29, 2016, while considering an application for stay, had to consider whether the assessment by the Assessment Officer is an unreasonably high-pitched assessment and whether the petitioner is put to genuine hardship because of such assessment. The learned counsel for the petitioner rel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... see if the assessee's case would fall under Instruction No. 2B(iii) of Circular No. 1914, or not? Both the Assessing Officer, and the Principal Commissioner of Income-tax, are required to examine whether the assessment is 'unreasonably high-pitched', or whether the demand for depositing 15 per cent. of the disputed demand amount 'would lead to a genuine hardship being caused to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome-tax, Hubbali, on March 19, 2020, the petitioner will be heard afresh on the merits of its application for stay and exemption from deposit of the minimum of 20 per cent. of the demand. For the foregoing, the writ petition is partly allowed quashing the order dated February 26, 2020 restoring the petitioner's application for stay for reconsideration in accordance with the decision of this ..... X X X X Extracts X X X X X X X X Extracts X X X X
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