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TMI Blog2019 (2) TMI 1379X X X X Extracts X X X X X X X X Extracts X X X X ..... ax demand raised, we are of the view that this is not a fit case for grant of stay on recovery of the outstanding demand of ₹ 9,29,93,360/- and accordingly dismiss the assessee’s stay petition. On the request of both the parties, the hearing in this case which was fixed for 28.06.2019, stands preponed and early hearing is granted on 13.03.2019. Since the date of early hearing is pronounced i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orators, consultants and brokers of all types of immovable properties for development, or for resale and to act as buyers, sellers and agents, filed its return of income for Assessment Year 2014-15 on 29.11.2014 declaring a loss of ₹ 74,44,09,458/-. The case was taken up for scrutiny and the assessment completed under section 143(3) r.w.s. 144C(13) of the Income Tax Act, 1961 (in short the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pay any portion of the outstanding demand of ₹ 9,29,93,360/- and therefore the Tribunal may kindly grant stay on recovery of outstanding demand till disposal of its appeal for Assessment Year 2014-15. 4. The learned DR vehemently opposed the grant of stay on recovery of the outstanding demand submitting that the assessee has so far not paid a single rupee towards the outstanding tax dema ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3.03.2019. Since the date of early hearing is pronounced in open court in the presence of both the parties, no notice of hearing the appeal in IT(TP)A No.3282/Bang/2018 for Assessment Year 2014-15 in the present case need be issued. 6. In the result, the assessee s stay petition for assessment year 2014-15 is dismissed. Order pronounced in the open court on this 22nd day of February, 2019. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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