2024 (10) TMI 178 - HC - Income Tax

Stay petition - petition was rejected on the ground that the petitioner did not make the 20% deposit in terms of CBDT's office memorandum - HELD THAT - On examining the stay petition filed by the petitioner, it is evident, however, that such stay petition did not contain details relating to financial stringency. Therefore, it is necessary to impose costs on the petitioner. Subject to payment of a sum of Rs.10,000/- to the Cancer Institute, Adyar, by the petitioner, within a period of two weeks from the date of receipt of a copy of this order, the petitioner is permitted to submit a fresh stay application before the assessing officer. Such application shall be submitted within two weeks from the date of receipt of a copy of this order. Such application shall be considered and disposed of by the assessing officer by taking note of the observations contained in this order. The petitioner is directed to extend full co-operation by not taking adjournments.

Summary

The petitioner's appeal for stay on assessment order was rejected for not making required deposit. A subsequent stay petition was dismissed for lack of financial details. Court allows petitioner to file fresh stay application after paying Rs.10,000 to Cancer Institute. No costs awarded.