9911796707
TMI Blog2020 (2) TMI 950X X X X Extracts X X X X X X X X Extracts X X X X ..... m of ₹ 15,71,293/-, out of demand of ₹ 61,99,012/-, the Interest of Justice will be complied with by directing the appellant to deposit a further sum of ₹ 15,00,000/- in three equal installments, each installments should be paid within 15 days of every month. On such payment, the dismissal order passed by the Tribunal in the stay petition is set aside and there shall be an ord ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appellant is that he has purchased shares in Twenty First Century India Limited between October 2004 and November 2004 and he has sold the shares only in 2010 and he is entitled for exemption u/s.10(38) of the Income Tax Act, 1961. The Assessment Officer disallowed the claim and the same was confirmed by the Appellate Commissioner. In the Appeal, the Tribunal found that there is no prima facie cas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed stay of balance tax demand when it has made a prima facie case on merits, the balance of convenience is in faovur of the Appellant and undue hardship will be caused to the Appellant if further tax demand is to be paid? 4.Heard Mr.R.Sandeep Bagmar, learned counsel appearing on behalf of the appellant and Mr.T.Ravikumar, learned Senior Standing counsel appearing on behalf of the respondent. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ill be complied with by directing the appellant to deposit a further sum of ₹ 15,00,000/- in three equal installments, each installments should be paid within 15 days of every month. On such payment, the dismissal order passed by the Tribunal in the stay petition is set aside and there shall be an order of interim stay till the disposal of the Appeal before the Tribunal. The question of law ..... X X X X Extracts X X X X X X X X Extracts X X X X
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