9911796707
TMI Blog2011 (10) TMI 738X X X X Extracts X X X X X X X X Extracts X X X X ..... vide Stay Petition No.15 and 16/Ahd/2011 order dated 25- 3-2011 on the part payment of tax. That the tax as directed by the ITAT was Stay Petition Nos.71 and 72 /Ahd/2011 duly paid by the assessee; that the hearing of the appeals could not take place because similar matter is pending for hearing before the Hon'ble Apex Court. He therefore requested that the stay of pending demand may kindly be granted. He also pointed out that the department has not given effect to the order of the CIT(A) and if the effect to the order of the CIT(A) is given, in fact there will be no demand outstanding against the assessee, on the other hand, the assessee would be entitled to refund of ₹ 5,28,43,161/- and ₹ 5,45,31,342/- for the A.Y.2008-20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessment year 2009-2010 is as under: Particulars Prepaid discount (in Rs.) Total Demand under Section 201(1) and section 201(1A) as per 201 order 90,443,478 Less Amount paid on 31 March 2010 (25,000,000) Less Amount paid on 24 September, 2010 (10,000,000) Less Amount paid on 30 December, 2010 (20,000,000) Less Amount paid on 25 February 2011 (62,50,000) Total Outstanding demand under Section 201(1) and Section 201(1A) a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the assessee. In A.Y.2009-2010 against the demand of ₹ 9.04 crores, the outstanding demand is only ₹ 2.41 crores. Thus, approximately 75% demand is already paid by the assessee in A.Y.2009-2010 also. In view of these facts, we are of the opinion that assessee deserves stay of Stay Petition Nos.71 and 72 /Ahd/2011 demand if any demands remains after giving effect to the order of the CIT(A). We therefore direct the AO to stay the demand if any remains against the assessee after giving effect to the order of the CIT(A). This stay order would be effective for the period of 180 days from the date of this order or till the disposal of the appeal by the ITAT, whichever expires earlier. We also direct that these appeals be heard on ..... X X X X Extracts X X X X X X X X Extracts X X X X
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