9911796707
TMI Blog2012 (11) TMI 391X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs.50,00,000/- is to be reduced to Rs.15,00,000/- to be paid before the end of every month starting from 12th of October, 2012 - partly in favour of assessee. - Stay Petition No. 44, 45, 46, & 47/Ahd/2012 & IT (SS) A Nos. 341, 342, 343 and 344/Ahd/2012 - - - Dated:- 5-10-2012 - SHRI G. C. GUPTA, AND SHRI A. MOHAN ALANKAMONY, JJ. Applicant by Shri Anil Khatriya, AR Respondent by Shri Shelly Jindal, CIT DR O R D E R PER A. MOHAN ALANKAMONY: The assessee M/s. N. R. Agarwal Industries Ltd., has filed these Stay Petitions against the addition made vide assessment orders passed u/s 153A read with section 143(3) for the AY 2007-08 to 2010-11. 2. The learned AR submitted that the assessee had paid outstanding tax of Rs.3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lsification of the facts and with an intention to evade the payment of tax due and to find an escape-route from the directions of the Hon ble High Court which is unequivocal in their terms of payment of tax-demand and conditions for granting stay. 4. In the course of assessment-proceedings as well as recovery-proceedings, the petitioner has through-out been a non-cooperative, litigant and non-compliant petitioner. The non-cooperative attitude of the petitioner was evident during the course of assessment-proceedings in which because of the recalcitrant and non-cooperative attitude of the petitioner, the A. O. had to issue even show-cause notice under section 144. The non-compliant attitude of the Petitioner is evident during the recovery-p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Hon ble High Court has directed the petitioner to pay Rs.3 crores immediately and security for the rest of the Rs.9 crores to the satisfaction of the High Court has not been followed / complied by the petitioner. 4. We have heard the rival submissions and carefully perused the materials on record. At the outset, on examining the facts of the case it is apparent that the assessee has paid approximately 30% of the outstanding tax and has provided security for the remaining outstanding tax demand. Further, the assessee has voluntarily provided security to the revenue as per the requirement of Schedule II Rule 34 of the Act cited hereinabove. Further, on merits, it appears that the issues involved in the appeals are complicated and requ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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