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TMI Blog2006 (4) TMI 81X X X X Extracts X X X X X X X X Extracts X X X X ..... oo in the nature of penalty. The Tribunal ought to have considered whether a prima facie case is made out or not. Since the order suffers from non application of mind, the same is liable to be set aside. - Considering the fact that all the transactions in question are reflected in the accounts as submitted by learned senior counsel for the petitioner and there is no suppression, there shall be an order of interim stay till the disposal of the appeal. - - - - - Dated:- 21-4-2006 - Judge(s) : K. MOHAN RAM. JUDGMENT K. Mohan Ram J.- Ms. Pushya Seetharaman, learned senior Central Government standing counsel, takes notice for the respondents. By consent of both the parties, the writ petition itself is taken up for final disposal. The p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ioner maintains an account and also to various clients of the petitioner. It is pertinent to submit that the first respondent issued notices to the tune of Rs. 22,52,039, even though the penalty under section 271D was only Rs. 11,65,240. The petitioner filed a stay petition before the Tribunal and the same was taken up for hearing on March 31, 2006, and the Tribunal passed the following order: "By this stay petition, the assessee seeks stay for recovery of disputed tax demand of Rs. 11,65,240. 2. After hearing the rival parties and perusing the material placed before us, we are of the opinion that it is not a fit case for grant of stay as the assessee has not paid any amount of the total demand raised by the Department and the tax due w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er of the first appellate authority, learned senior counsel submits that though all the transactions are reflected in the account books and there is no allegation of any suppression of income etc., the first appellate authority has not at all considered the explanations submitted by the petitioner in the grounds of appeal filed and in the petition seeking waiver and sufficient grounds have been raised to establish a prima facie case for grant of waiver. But the Tribunal has not at all considered any of these aspects, but has simply rejected the petition and fixed an early date for hearing. Ms. Pushya Seetharaman, learned senior standing counsel for the Income-tax Department submits that the Tribunal has fixed an early date for the hearing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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