9911796707
TMI Blog2013 (12) TMI 365X X X X Extracts X X X X X X X X Extracts X X X X ..... hall be heard and decided within one month thereafter, and till the disposal of the appeal the recovery of balance amount shall remain stayed - Partly allowed in favour of assessee. - Writ Tax No. - 346 of 2012 - - - Dated:- 20-3-2012 - Hon'ble Ashok Bhushan And Hon'ble Prakash Krishna,JJ. For the Petitioner : Ritesh Kumar Agrahari For the Respondent : C.S.C., Income Tax ORDER By means of the present writ petition the petitioner has prayed for a writ, order or direction in the nature of mandamus directing the respondents to stay the demand of Rs. 12.53 crores for the assessment year 2003-04 arising out of the penalty levied under Section 271 (1)(C) of Income Tax Act, till the disposal of the appeal pending before CIT(A). ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d was stayed till the disposal of the appeal. Still being aggrieved by the aforesaid order, the present writ petition has been filed. Heard Senior Advocate along with Shri R.K. Agrahari, learned counsel for the petitioner and Shri Ashok Kumar Senior Standing Counsel for the Income Tax Department and with their consent this writ petition is being disposed of at the admission stage without calling for a counter affidavit. Learned counsel for the petitioner submits that it is a case where no penalty under Section 271 (1) (C) of the Income Tax Act could be levied. This, according to him, is not a case of any concealment of the particulars of income. All the facts were disclosed in documents and return of income. Whether, the sales tax subsi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... before the Commissioner of Income Tax (Appeals) and it would not be proper for this Court to express any opinion on the merits of the case. suffice it to say that the Commissioner of Income Tax Appeal has considered the facts of the case objectively and has granted the relief staying 70% of the total demand. The authority below has already granted substantial relief to the petitioner. It was neither pleaded nor argued that there would be any financial hardship in making the deposit as directed under the impugned order. Taking into consideration the entire facts of the case, we are disposing of the present writ petition with the directions that if the petitioner deposits the first installment within a week from today, the appeal shall be ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
