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TMI Blog2006 (10) TMI 104X X X X Extracts X X X X X X X X Extracts X X X X ..... at has happened is that clause (20A) has been deleted from section 10. This clause (20A) deals with incomes which do not form part of total income and based thereon, now a demand has been raised for the claimed arrears of tax – petitioner was asked to deposit an amount of Rs. one crore towards these arrears which the petitioner has deposited. - Now, because the appeal is getting protracted, the As ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etax Act, 1961. It is the case of the petitioner that it is eligible to claim exemption from income-tax under section 11 of the Income-tax Act. Now, what has happened is that clause (20A) has been deleted from section 10. This clause (20A) deals with incomes which do not form part of total income and based thereon, now a demand has been raised for the claimed arrears of tax to the tune of Rs. 22 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he petitioner on August 29, 2006, that he cannot grant a further stay and, therefore, the petitioner is now required to pay 25 per cent. of the outstanding demand within a month. It is at this stage that the present petition has been filed. It is submitted on behalf of the petitioner that if any such order is to be complied with, the projects of the petitioner will get affected. It is further su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... prolonged since the respondents are asking for time, surely, the petitioner deserves to be protected. Mr. Sharma appearing for the Revenue referred to the recent circulars of the Central Board of Direct Taxes and section 265 of the Income-tax Act to submit that even if the appeal is pending, the tax must be paid. Even so, considering that the petitioner is a statutory authority and its submissi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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