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Issues involved: Extension of stay of demand u/s 234B, 234C, and 234D for assessment year 2006-2007.
Summary: The Appellate Tribunal ITAT Mumbai considered the stay application seeking extension of demand already stayed by the tribunal for a significant amount inclusive of interest u/s 234B, 234C, and 234D for the assessment year 2006-2007 until the final disposal of the appeal. The original order granted stay subject to a deposit, which was complied with. Due to a member's transfer, the case was to be fixed afresh, with no fault attributed to the assessee for any adjournments. The Tribunal referred to a Special bench decision and a High Court judgment, stating that if delay in appeal disposal is not the assessee's fault, the tribunal can extend the stay beyond 365 days post an amendment. Considering the factual position and the assessee's compliance, the extension of stay was granted until appeal disposal or for a further 180 days, with a condition against seeking adjournments without just cause. The stay application was allowed, with the order pronounced in open court on June 8, 2012.
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