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2025 (1) TMI 1188 - HC - Income TaxStay the demand raised with regard to the Valuation of a property till the disposal of appeal by the First Appellate Authority - AO directed the Petitioner to pay 20% of the demand - HELD THAT - On a very similar situation in the Petitioner s own case for the AY 2015-2016 the PCIT has stayed the demand. We direct the PCIT to decide the stay application filed with him for the Assessment Year under consideration within a period of four weeks from the date of uploading the present order. PCIT to grant the personal hearing to the Petitioner and after hearing the Petitioner would pass a detailed speaking order deciding the stay application. Since in Assessment Year 2015-2016 the department has stayed the recovery of the demand by way of an interim order we direct the Respondents not to take any coercive action for recovery for a period of four weeks from the date of uploading the present order. Petitioner is directed to appear before the PCIT on 28 January 2025 and file an authenticated copy of this order so that the stay application can be taken up for hearing as directed above.
In the case before the Bombay High Court, presided over by Justices M.S. Sonak and Jitendra Jain, the petitioner sought a writ of mandamus to stay a demand of approximately Rs. 30.75 Crores related to the valuation of a property for the Assessment Year 2022-2023. The demand arose from an assessment order where the valuation report was not shared with the assessee, prompting an appeal and a stay application under Section 220(6) of the Income Tax Act.
The Assessing Officer had previously ordered the petitioner to pay 20% of the demand. The petitioner, aggrieved by this, filed a stay application with both the Principal Commissioner of Income Tax (PCIT) and the Commissioner of Income Tax Appeals (CIT(A)), which remain pending. Citing a similar situation from the Assessment Year 2015-2016, where the PCIT had stayed the demand, the court directed the PCIT to decide on the current stay application within four weeks, granting the petitioner a personal hearing and requiring a detailed speaking order. An interim order was issued to prevent any coercive recovery action for four weeks. The petitioner was instructed to appear before the PCIT on 28 January 2025 with an authenticated copy of the court's order. The petition was disposed of accordingly.
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