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2021 (9) TMI 1 - AT - Income TaxStay on the recovery of demand - HELD THAT - As seen that the stay originally granted was extended by the Tribunal for a period of 180 days or till the disposal of the appeal, whichever is earlier. The stay granted by the Tribunal was due to expire on 06.04.2020. However in view of the Covid-19 pandemic, the Hon ble Bombay High Court extended all interim orders operating as on the day of lockdown to be treated to be valid till 30.04.2020 - Hon ble Bombay High Court extended all interim orders passed till 31.01.2021 vide extension orders dated 15.04.2020, 15.06.2020, 15.07.2020, 31.08.2020, 30.09.2020, 29.10.2020 and 09.12.2020. As found that the appeal could not be disposed off for one reason or the other, but for no fault of the assessee. In fact, the case is fixed for hearing before the Tribunal on 23.02.2021. We also notice that the assessee has paid ₹ 41,16,60,980/- out of ₹ 1,12,29,02,350/- which is 36% of the demand. In the present case, we grant the extension of stay of demand for a further period of 180 days from the date of this order or till the disposal of present appeal, whichever is earlier - Stay application is allowed.
Issues: Stay application for extension of demand amounting to ?71,12,41,378 already stayed by the Tribunal for assessment year 2010-11.
Analysis: 1. The appellant sought an extension of the stay on the recovery of demand amounting to ?71,12,41,378 already stayed by the Tribunal for the assessment year 2010-11 until the appeal's disposal. 2. The Tribunal had initially granted a stay on the recovery of demand of ?112,29,02,350 with a direction to adjust a refund of ?41,16,60,980 due to the assessee for AY 2007-08. The appellant's counsel argued that 36% of the total outstanding demand had already been recovered by the Revenue, and there was no change in circumstances, hence requested a six-month extension of the stay. 3. The Revenue opposed the extension of stay without further payment of tax. 4. The Tribunal noted that the stay granted earlier was extended for a period of 180 days or until the appeal's disposal, whichever is earlier. Due to the Covid-19 pandemic, the Hon'ble Bombay High Court extended all interim orders, including the stay, till 30.04.2020 and subsequently till 31.01.2021. 5. The appeal could not be disposed of due to various reasons, not attributable to the assessee. The case was scheduled for a hearing before the Tribunal on 23.02.2021. The assessee had already paid ?41,16,60,980 out of ?1,12,29,02,350, which accounted for 36% of the demand. 6. Considering the factual position and circumstances, the Tribunal granted the extension of the stay on the demand for a further 180 days from the date of the order or until the appeal's disposal, whichever is earlier. 7. The stay application was allowed, and the order was pronounced in the open Court on 19/02/2021.
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