9911796707
TMI Blog2024 (10) TMI 1578X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 220(6) of the Income Tax Act, 1961 has been rejected. The Impugned Order reads as under:- "The aforesaid assessee has filed a petition dated 18.03.2021 requesting to grant stay of demand which is raised by NeFAC vide order dated 16.02.2021 for the A.Y.2018-19. 2. The assessee's stay petition, facts of the case has been carefully perused. Considering the facts of the case and view of instruction No.1914 issued by the Central Board of Direct Taxes (CBDT) dated 31/07/2017, the assessee is directed to remit 20% of the demand raised within 7 days of receipt of this order. The Assessing officer shall monitor the payment of 20% of the disputed demand and thereafter, stay the balance 80% of the disputed demand till disposal of appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Circulars themselves, the financial stringency faced by an assessee and the balance of convenience in the matter constitute the 'trinity', so to say, and are indispensable in consideration of a stay petition by the authority. The Board has, while stating generally that the assessee shall be called upon to remit 20% of the disputed demand, granted ample discretion to the authority to either increase or decrease the quantum demanded based on the three vital factors to be taken into consideration. 13. In the present case, the assessing officer has merely rejected the petition by way of a non-speaking order reading as follows: "Kindly refer to the above. This is to inform you that mere filing of appeal against the said order is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se as well as call upon the assessee to demonstrate financial stringency, if any and arrive at the balance of convenience in the matter. 15. I thus set aside impugned order dated 25.01.2019. The Assessing Officer is directed to pass orders de novo on the stay application filed by the petitioner in the light of the discussion as aforesaid, after hearing the petitioner, within a period of four weeks from date of receipt of a copy of this Order. I have, for the aforesaid reason, consciously and deliberately refrained from referring to or making any observation on the merits of the assessment. 16. With these directions, the writ petition stands disposed of and consequently, the connected miscellaneous petition is closed. There shall be no o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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