9911796707
TMI Blog2016 (12) TMI 1199X X X X Extracts X X X X X X X X Extracts X X X X ..... ion that the office memorandum dated 29th February 2016 shall not be applicable to the facts of the present case. Considering the aforesaid facts and circumstances, the learned Principal Commissioner of Income-tax ought to have granted unconditional stay of the demand during pendency and final disposal of the appeal before CIT [A]. In view of the above and for the reasons aforestated, the prese ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dia, the petitioner-assessee has prayed for issuance of appropriate writ or order quashing and setting aside the impugned Order passed by the Principal Commissioner of Income-tax by which, the order passed by the Assessing Officer for AY 2013- 2014 adding a sum of ₹ 119.21 Crores [rounded off ] is ordered to be stayed during the pendency and final disposal of the Appeal before the Commission ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... behalf of the assessee that with respect to earlier years and with respect to the very subject, the learned CIT [A] has held in favour of the assessee, against which the Revenue is before the learned Tribunal. It is submitted that therefore, in the aforesaid facts and circumstances of the case, the Principal Commissioner of Income-tax is not justified in directing the petitioner to deposit 15% of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6. Having heard learned advocates appearing for respective parties and considering the fact that with respect to earlier assessment years, on the very issue, when the assessee had succeeded at the first appellate stage [and according to the petitioner assessee upto the High Court], we are of the opinion that the office memorandum dated 29th February 2016 shall not be applicable to the facts of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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