9911796707
TMI Blog2019 (5) TMI 306X X X X Extracts X X X X X X X X Extracts X X X X ..... ances of the assessee before deciding whether the present case is a fit one where the requirement of deposit of 20% of the disputed tax pending appeal can be reduced. Petition is disposed of with the impugned order of Commissioner dated 29th March 2019 is quashed and set aside. The Commissioner is requested to pass a fresh order bearing in mind the observations made herein and taking into consideration the case of the petitioner. This must be done preferably before 31st May 2019. Attachment on bank account of the petitioner shall be lifted forthwith. There shall be no recovery against the petitioner for a period of two weeks, pursuant to the order passed by the Commissioner after the same is communicated to the assessee/ petitioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... their own money urgently. When these members, therefore, deposit cheques in their accounts, the credit society pays them the cheque amount immediately, without waiting for realisation of the said cheques. In any case, according to the assessee, the commission rate in such cheque discounting business does not exceed 0.15% of the cheque amount. The assessing officer, therefore, applied an unusually high rate of commission. The assessee would point out that this is a sole head of addition in the assessment order. According to the assessee, therefore, there is a strong prima facie case in appeal. The assessment can be described as a high pitched assessment. The Principal Commissioner (appeals) therefore, ought to have granted stay pend ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... one where the requirement of deposit of 20% of the disputed tax pending appeal can be reduced. 8] Under the circumstances, the petition is disposed of with following directions:- (a) The impugned order of Commissioner dated 29th March 2019 is quashed and set aside; (b) The Commissioner is requested to pass a fresh order bearing in mind the observations made herein and taking into consideration the case of the petitioner. This must be done preferably before 31st May 2019. (c) Attachment on bank account of the petitioner shall be lifted forthwith; (d) The amount of tax already recovered from the petitioner will not be refunded as of now and shall be adjusted against the final order that t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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