TMI Blog2023 (3) TMI 105X X X X Extracts X X X X X X X X Extracts X X X X ..... matter, without being burdened by the observations made hereinabove. We make it clear, that till such time the application is disposed of by the CIT, no coercive measures will be taken against the petitioner. CIT will dispose of the application within two weeks of receipt of a copy of the judgement. In the event that the order passed by the CIT is adverse to the interests of the petitioner, the petitioner will have liberty to take recourse to an appropriate remedy, albeit, as per law. The order, if any, passed adverse to the interests of the petitioner will not be given effect to for a further period of two weeks, to enable the petitioner to take recourse to an appropriate remedy. - W.P.(C) 1911/2023 & CM APPL. 7264/2023 - - - Dated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs.7,43,46,066/-, the petitioner has been called upon to deposit, for the moment, Rs.1,48,69,213/-. This amount was required to be deposited by 15.01.2023. 8. The impugned order also contains certain other conditions, which are set out in paragraph 4 of the said order. 9. The record shows, that the petitioner has also filed an application with the Principal Commissioner/Commissioner of Income Tax (CIT) qua the impugned order dated 23.12.2022. This application appears to have been filed in and about 16.01.2023. [See Annexure P-11 appended on page 162 of the case file]. 9.1 We are informed by the learned counsel for the petitioner, that this application is pending adjudication. 10. The record shows, that the demand made against t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nts/revenue, in the earlier years. 14.1 For this purpose, our attention has been drawn to page 51 of the case file, wherein the gross profit rate is indicated as 1.06%. 15. We are of the view, that the CIT could consider the aforementioned aspects in the pending application. 15.1 In sum, even if the additions made by the AO on account of purchases are accepted, then surely, there is a case for examining, as to what is the gross profit rate to be attributed to the petitioner, based on the past record. 15.2 If the said gross profit rate is accepted, then, the amount that may have to be deposited by the petitioner, pending the disposal of his appeal, could be adjusted. However, for the moment, we are not expressing any firm views i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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