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TMI Blog2013 (2) TMI 880X X X X Extracts X X X X X X X X Extracts X X X X ..... t by : Shri Farahat Hussain Qureshi, CIT-II(DR) ORDER N.V. Vasudevan, The assessee has filed the above application praying for an order of stay of recovery of outstanding demand of ₹ 1,28,14,177. 2. The original outstanding demand on account of tax and interest was ₹ 1,68,14,177. The assessee had made a payment of ₹ 20 lakhs on 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TPO which was confirmed by the DRP, cannot stand. It was also submitted that the assessee is in a very bad financial position and in this regard, a copy of the bank statement as on 30.01.2013 was filed which shows that the assessee has cash balance of only ₹ 15,27,783. Taking into consideration the existence of a prima facie case, balance of convenience and hardship, it was prayed that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al position of the assessee, we are of the opinion that it would be just and appropriate to grant an order of stay on recovery of outstanding demand for a period of six months from the date of this order, or till the appeal is disposed of, whichever is earlier. The assessee is, however, directed to pay a sum of ₹ 10,00,000/- (Rupees Ten Lakhs only) towards the outstanding demand ..... X X X X Extracts X X X X X X X X Extracts X X X X
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