9911796707
TMI Blog2018 (3) TMI 1361X X X X Extracts X X X X X X X X Extracts X X X X ..... ative Officer, dated 23rd March, 2018 has been tendered in Court on behalf of the petitioner. The same is taken on record. In the affidavit it is stated that out of ₹ 1,16,05,939/( being 20% of penalty of ₹ 5,80,29,698/), the petitioner has already paid a sum of ₹ 10 lakhs. The affidavit undertakes to pay sum of ₹ 25 lakhs on or before 26th March, 2018 and the balance am ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er of Income Tax. The impugned order passed after discussion with the Principal Commissioner of Income Tax partially rejected the petitioner's application for stay of a demand of ₹ 5,80,29,696/under Section 220(6) of the Income Tax Act,1961 (the Act) by directing the petitioner to deposit 20% thereof. 2. This deposit of 20% would lead to stay of the balance amount of penalty imposed b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n tendered in Court on behalf of the petitioner. The same is taken on record. In the affidavit it is stated that out of ₹ 1,16,05,939/( being 20% of penalty of ₹ 5,80,29,698/), the petitioner has already paid a sum of ₹ 10 lakhs. Further, the affidavit undertakes to pay sum of ₹ 25 lakhs on or before 26th March, 2018 and the balance amount of ₹ 81,05,939/would be p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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