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TMI Blog2013 (7) TMI 64X X X X Extracts X X X X X X X X Extracts X X X X ..... he Assessing Officer giving rise to a demand constitutes independent proceedings which may lead to appellate or further appellate proceedings arising therefrom - present Stay Application filed by the assessee for stay operation of the order passed by the CIT u/s 263 of the Act has become infructuous - Decided against the assessee. - S.A.No.49/Hyd/2013 (in ITA No.545/Hyd/2013) - - - Dated:- 28-6-2013 - Shri Chandra Poojari And Sri Saktijit Dey,JJ. For the Applicant : Shri A. V. Raghuram For the Respondent : Smt. Amisha S. Gupth ORDER Per Saktijit Dey, Judicial Member: By this Stay Application dated 24-6-2013,, the assessee is seeking stay operation of the order dated 28-3-2013passed by the CIT u/s 263 of the Act pertaini ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... demand is raised by the Assessing Officer while implementing the direction of the CIT. It was submitted that in the present case, the Assessing Officer having passed a consequential order in pursuance to the order passed u/s 263 of the Act raising a demand, the Stay Application filed by the assessee has virtually become infructuous, as the stay operation of the order passed by the CIT will have no bearing on the demand raised by the Assessing Officer. 4. We have considered the rival submissions of the parties and perused the material available on record. Originally, on 17-4-2013 the assessee filed Stay Application seeking stay of outstanding demand of Rs.3,90,51,47,940. When the case came up for hearing on 3rd May, 2013, the bench wanted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IT on 28-3-2013 had passed an order u/s 263 of the Act giving the following directions:- "As such the provisions introduced in 4A,4B 4C by way of amendments made to Andhra Pradesh Excise and Andhra Pradesh (Regulation of trade in Indian made foreign Liquor, Foreign Liquor) Act, (Amendment) Act, 2012 (Andhra Pradesh Act No.5 of 2012) have in no way altered the taxability of the assessee corporation and in view of the same I conclude that the order passed by the then CIT u/s 263 of the IT Act on 29-3-2011 deserve no medication and as such there is no change to the income determined at Rs.885,56,53,800/- by disallowing privilege fee, spl. privilege fee and spl. privilege fee for sports." In consequence of the aforesaid order passed by th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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