9911796707
TMI Blog2018 (11) TMI 138X X X X Extracts X X X X X X X X Extracts X X X X ..... ies from the petitioners even otherwise would not be called for. We however cannot take care of the anxieties of the petitioners for the future developments, many of which are not possible to foresee with any clarity at this stage. We can only request the department to be vigilant about enforcing the conditions against the firm. The department would also look into the transactions of the firm in the said account number which is supplied by the petitioners. Petition is disposed of at this stage. Further, providing that as long as the respondent no.2 firm continues to fulfill the conditions of depositing installments and till the stay pending appeal continues, there shall be no further recoveries from the petitioners. In case of either of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing Officer has granted the facility of installments. We are informed by the counsel for the Revenue that by now, against the 20% tax which comes to approximately ₹ 1.50 crores, the firm has deposited approximately ₹ 53 lakhs. Therefore, there is no default in depositing any of the installments. 2. The grievance of the petitioners is that the departmental authorities have invoked section 188A of the Income Tax Act, 1961, ('the Act' for short) and issued notice to the petitioners on 07.08.2018 to deposit a tax as the erstwhile partners of the firm. In fact, the entire tax of ₹ 852.87 lakhs is raised against the petitioners. 3. Learned counsel for the petitioners was unable to establish that merely because the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... firm is anyway fulfilling, the recoveries from the petitioners even otherwise would not be called for. We however cannot take care of the anxieties of the petitioners for the future developments, many of which are not possible to foresee with any clarity at this stage. We can only request the department to be vigilant about enforcing the conditions against the firm. The department would also look into the transactions of the firm in the said account number which is supplied by the petitioners. 6. Subject to above observations, the petition is disposed of at this stage. Further, providing that as long as the respondent no.2firm continues to fulfill the conditions of depositing installments and till the stay pending appeal continues, there ..... X X X X Extracts X X X X X X X X Extracts X X X X
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