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TMI Blog2018 (2) TMI 880X X X X Extracts X X X X X X X X Extracts X X X X ..... on’ble Single Judge has directed the petitioner to furnish bank guarantee equivalent to 25% of the tax demand for the assessment years 2009-10 and 2010-11. For the assessment year 2011-12, the Hon’ble Single Judge has directed the petitioner to deposit 20% of tax demand, which would in all account for 50% of tax demand for the assessment year and to furnish a bank guarantee for 25% of the tax demand, in parity with orders made for assessment years 2009-10 and 2010-11. So far as the assessment year 2012-13 is concerned, the Hon’ble Single Judge has modified Tribunal’s order by directing the petitioner to furnish bank guarantee equivalent to 45% of the tax demand An order under Section 254 (2A) is a discretionary order. Therefore, in o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eposit additional sums towards outstanding tax demands in respect of assessment years in question and to retain 20% of tax demand in petitioner s bank account till the disposal of the appeals before the Tribunal. 5. The Hon ble Single Judge, on consideration of the material on record, partially modified Tribunal s order and directed the petitioner: to furnish a bank guarantee for 25% of the tax demand in respect of assessment years 2009-10 and 2010-11; to pay 20% of tax demand in respect of assessment year 2011-12 and to furnish bank guarantee to cover 25% of the tax demand; and to furnish a bank guarantee for 45% of the tax demand in respect of assessment year 2012-13. 6. The Hon ble Single Judge further directed the T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ithin the said period of stay as specified in the order of stay, the Appellate Tribunal may, on an application made in this behalf by the assessee and on being satisfied that the delay in disposing of the appeal is not attributable to the assessee, extend the period of stay, or pass an order of stay for a further period or periods as it thinks fit; so, however, that the aggregate of the period originally allowed and the period or periods so extended or allowed shall not, in any case, exceed three hundred and sixty-five days and the Appellate Tribunal shall dispose of the appeal within the period or periods of stay so extended or allowed: Provided also that if such appeal is not so disposed of within the period allowed under the first pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r has deposited about 50% of the tax demands. For the assessment years 2011-12 and 2012-13, it has deposited about 30% of the tax demands. 13. The Hon ble Single Judge has recorded a finding that the Tribunal, while passing orders under Section 254 (2A) has followed this Court s order dated 22.11.2017 in Writ Petitions No.52358-52359/2017, wherein, petitioner was directed to retain 20% of the tax demand in the bank. Keeping in view the said order, the Hon ble Single Judge has issued the directions extracted supra. 14. In effect, the Hon ble Single Judge has directed the petitioner to furnish bank guarantee equivalent to 25% of the tax demand for the assessment years 2009-10 and 2010-11. For the assessment year 2011-12, the Hon ble Sin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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