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2015 (3) TMI 1164 - AT - Income Taxstay of recovery extended - Held that - We further extend the stay of impugned demands subject to further payment of ₹ 50,000/- per month till disposal of assessee s appeals for A.Y. 2007-08 to 2009-10 respectively or on expiry of six months, whichever is earlier.
Issues: Stay of recovery of impugned demands for multiple assessment years.
In this judgment by the Appellate Tribunal ITAT AHMEDABAD, three Stay Applications were filed by the same assessee seeking an extension of the stay of recovery of impugned demands for different assessment years. The Tribunal decided to dispose of all three applications by a common order for convenience. The Authorized Representative argued that the Tribunal had previously granted a stay on certain conditions, including the deposit of a specific amount in the Government Account and monthly payments. The Authorized Representative requested an extension of the stay on the same terms due to the delay in the disposal of the appeal, which was not attributable to the assessee. The Departmental Representative opposed the extension of the stay as requested by the applicant. The Tribunal, in the interest of justice, decided to further extend the stay of impugned demands subject to the additional payment of a specific amount per month until the disposal of the assessee's appeals or the expiry of six months, whichever is earlier. Consequently, all Stay Applications filed by the assessee were allowed as per the terms indicated above. The judgment reflects the Tribunal's consideration of the facts and circumstances surrounding the initial grant of stay, the arguments presented by the Authorized Representative and the Departmental Representative, and the decision to extend the stay based on the interest of justice. The Tribunal emphasized the conditions set previously and decided to allow the Stay Applications with the additional payment requirement. The decision highlights the importance of adherence to the specified terms for the extension of stay and the Tribunal's discretion in granting such extensions based on the merits of each case.
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