9911796707
TMI Blog2019 (4) TMI 1440X X X X Extracts X X X X X X X X Extracts X X X X ..... N (L) NO.834 OF 2019 ALONG WITH WRIT PETITION (L) NO.835 OF 2019 ALONG WITH WRIT PETITION (L) NO.838 OF 2019 ALONG WITH WRIT PETITION (L) NO.839 OF 2019 ALONG WITH WRIT PETITION (L) NO.840 OF 2019 ALONG WITH WRIT PETITION (L) NO.856 OF 2019ALONG WITH WRIT PETITION (L) NO.857 OF 2019 ALONG WITH WRIT PETITION (L) NO.858 OF 2019 ALONG WITH WRIT PETITION (L) NO.859 OF 2019 ALONG WITH WRIT PETITION (L) NO.860 OF 2019 And ALONG WITH WRIT PETITION (L) NO.861 OF 2019 For The Petitioners : Mr. Percy Pardiwalla, Senior Advocate a/w Mr. Atul Jasani For The Respondents : Mr. Sham Walve ORDER P.C.- These Petitions arise in the common background. They have been heard together and would be finally disposed of by this common order. For convenienc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed the factual and legal controversies arising in this Petition in the following manner : "2. The petitioner is a trust. The object of the trust is to acquire Non-Performing Assets ("NPAs" for short) by banks and recover dues from the defaulters. For the assessment year 2016-17, the Assessing Officer passed an order of assessment on 24.12.2018 making certain disallowances and additions in the hands of the assessee which has given rise to a tax demand of Rs. 6.69 crores (rounded off). Against such order of assessment, the petitioner has filed an appeal before the Commissioner (Appeals) on 16.1.2019. Pending such appeal, the petitioner first requested the Assessing Officer to keep tax demand in abeyance. The Assessing Officer passed an orde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e appellate Commissioner could be carried out. This Court in the case of UTI Mutual Fund v. ITO [2012] 345 ITR 71 (Bom)had observed that, "If the Assessing Officer has taken a view contrary to what has been held in the preceding previous years without there being a material change in facts or law, that is a relevant consideration in deciding the application for stay." 5. In the present case, prima facie, the Revenue is unable to point out any material change in the facts or law on the basis of which the Assessing Officer has made the additions." 4. The learned Counsel for the Revenue opposed these Petitions contending that the Respondent - authorities have passed orders which are in consonance with the CBDT's circular. The Petitioners h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e purpose of deciding the condition of deposit of tax pending Appeal. 7. In view of such facts, these Petitions are disposed of with the following directions : ORDER (i) There shall be unconditional stay against the recovery of tax pending Appeals. (ii) If the order of the Commissioner (Appeals) in case of Scheme A1 of ARCIL CPS 002 XI Trust is reversed by the Tribunal, it would be open for the Principal Commissioner of Income Tax to impose a suitable condition for the Assessee to deposit tax pending Appeals, which order shall be passed after giving a reasonable opportunity of hearing to the Petitioner. (iii) The Petitioners shall not contribute to any delay in disposal of the Appeals. If in the opinion of the Department, the Petiti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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