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TMI Blog2007 (3) TMI 239X X X X Extracts X X X X X X X X Extracts X X X X ..... y petition and direct the first respondent to pass orders thereon after affording opportunity of hearing and to grant stay of demand relating to the assessment order for the assessment year 2004-05, pending disposal of the appeal before the second respondent. 2. The petitioner is a private limited company and the assessee under the Income-tax Act. For the assessment year 2004-05, the petitioner filed a return declaring a total loss of Rs. 8,49,603. The petitioner having regard to the provisions of section 115JB of the Income-tax Act, 1961, declared in the minimum alternate tax payable at Rs. 3,47,829 initially. However, the first respondent-Assessing Officer passed a high pitch assessment raising a huge demand of Rs. 1,40,25,762. Aggrieved ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be held in abeyance till the decision on the appeals, provided there were no lapse on the part of the assessee.' 3. The Board desires that the above observations may be brought to the notice of all the Income-tax Officers working under you and the powers of stay of recovery in such cases up to the stage of first appeal may be exercised by the Inspecting Assistance Commissioner/Commissioner of Income-tax." (Instruction No. 96 F. No. 1/6/69-ITCC, dated August 21, 1969) and also the judgments of N. Rajan Nair v. ITO [1987] 165 ITR 650 (Ker) and Mrs. R. Mani Goyal v. CIT [1996] 217 ITR 641 (All). 5. However, learned counsel appearing for the respondents submits that as the petitioner has not co-operated in any manner to complete the assessme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Bar that after passing of the assessment order, the Assessing Officer has forcibly withdrawn a sum of Rs. 7.5 lakhs from the bank account of the petitioner. The said payment is recorded. 8. Having regard to the abovesaid facts and circumstances of the case, with particular reference to the instructions issued by the Central Board of Direct Taxes, which is extracted above, I am of the view that the petitioner is entitled to stay of the collection till orders are passed in the appeal, subject to making certain payment. 9. Accordingly, the writ petition is disposed of and there will be an order of stay of collection of demand of tax for the assessment year 2004-05 till orders are passed in the appeal, subject to the petitioner making pay ..... X X X X Extracts X X X X X X X X Extracts X X X X
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