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TMI Blog2019 (3) TMI 365X X X X Extracts X X X X X X X X Extracts X X X X ..... ed as seen from the Official Memorandum dated 31.07.2017 read with paragraph (B) of the official memorandum dated 29.02.2016, issued by the Government of India, Ministry of Finance, CBDT whereby the petitioner can obtain an order of stay of the demand dated 27.12.2018, by Therefore, the apprehension of the petitioner that for obtaining the stay, conditions imposed will be onerous are no more applicable. The petitioner is granted liberty to approach the Assessing Officer as per the Office Memorandum dated 31.07.2017 read with paragraph (B) of the official memorandum dated 29.02.2016, issued by the Government of India, Ministry of Finance, Central Board of Direct Taxes (CBDT), by paying 20% of the disputed demand and seek stay of the im ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tioner were not considered by the first respondent in the assessment order dated 27.12.2018. 3. Heard Mr.R.Sundar, learned counsel for the petitioner and Mr.N.Dilip Kumar, learned standing counsel appearing on behalf of the respondents. 4. Mr.N.Dilip Kumar, learned standing counsel appearing for the respondents brought to the notice of this Court, the Office Memorandum dated 31.07.2017, issued by the Ministry of Finance, Government of India, which reads as follows:- Instruction No.1914 dated 21.03.1996 contains guidelines issued by the Board regarding procedure to be followed for recovery of outstanding demand, including procedure for grant of stay of demand. Vide O.M.No.404/72/93-ITCC dated 29.02.2016, revised guidelines we ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al memorandum dated 29.02.2016 issued by the Government of India, Ministry of Finance, Central Board of Direct Taxes (CBDT) reads as follows: (B) In a situation where, (a) the assessing officer is of the view that the nature of addition resulting in the disputed demand is such that payment of a lump sum amount higher than 15% is warranted (e.g., in a case where addition on the same issue has been confirmed by appellate authorities in earlier years or the decision of the Supreme Court or jurisdictional High Court is in favour of Revenue or addition is based on credible evidence collected in a search or survey operation, etc.,) or, (b) the assessing officer is of the view that the nature of addition resulting in the disputed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d counsel for the petitioner has also conceded that in view of the Official Memorandum referred to supra, the petitioner will approach the Assessing Officer, by paying 20% of the disputed demand and seek stay of the impugned demand, by filing an application under section 220 (3) and 220 (6) of the Income Tax Act. 8. In the light of the above observations and after hearing the submissions of both the learned Counsels, the petitioner is granted liberty to approach the Assessing Officer as per the Office Memorandum dated 31.07.2017 read with paragraph (B) of the official memorandum dated 29.02.2016, issued by the Government of India, Ministry of Finance, Central Board of Direct Taxes (CBDT), by paying 20% of the disputed demand and seek sta ..... X X X X Extracts X X X X X X X X Extracts X X X X
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