2019 (3) TMI 392

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..... grant stay of the recovery of the outstanding demand of tax for all the A.Ys under consideration subject to the condition that the assessee pays ₹ 3.00 crores on or before 15.03.2019. The assessee shall submit the copy of the challan and also file the paper books within time so that the matter can be heard on 27.03.2019 which is the date fixed for hearing. The stay shall be in force for a pe .....

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..... penditure. He submitted that the assessee has succeeded only partially before the CIT (A) and therefore, the assessee is in appeal before us. He submitted that the assessee is facing severe cash crunch and all the bank accounts of the assessee have been attached by the Department and the assessee is not in a position to carry on the business. He, therefore, prayed for stay of the recovery of the o .....

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..... that the stay may not be granted. 4. Having regard to the rival contentions and the material on record, we find that the assessee has an arguable case and as seen from the submissions of the DR itself, the assessee does not have funds to meet the outstanding demand of tax. However, we deem it fit and proper to grant stay of the recovery of the outstanding demand of tax for all the A.Ys under co .....

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