9911796707
TMI Blog2020 (4) TMI 439X X X X Extracts X X X X X X X X Extracts X X X X ..... en Court and informed to the representatives of both the sides. No separate notice of hearing would thus be required to be served. The parties will file all the requisite documents, such as, paper-book etc. well in advance for expeditious disposal of appeal. Stay granted is also subject to the condition that the assessee will fully cooperate in speedy disposal of the appeal and will not seek any adjournment on any grounds whatsoever save and except wholly unavoidable and bonafide circumstance preventing the assessee from participating in appellate proceedings before the Tribunal. - Stay Application Nos. 61 to 64/Ahd/2020 (I.T.A. Nos. 1389, 1390, 1391 & 1392/Ahd/2019) (AYs. 2007-08 to 2010-11) - - - Dated:- 21-2-2020 - SHRI PRADIP KU ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2009-10 2,96,11,544 59,00,000 2,37,11,544 84,28,976 1,52,82,568 2010-11 3,39,32,097 67,00,000 2,72,32,097 96,80,462 1,75,51,635 Total 10,20,03,174 2,02,00,000 8,18,03,174 2,90,79,380 5,27,23,794 4. Making reference to the above tabulations, the learned Senior Counsel submitted that total penalty demanded all the four stay applications st ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the appeal of the assessee in quantum proceedings vide order dated 03.04.2018 R/Tax Appeal No. 448 of 2017 Ors. The learned Senior Counsel, in the circumstances, pointed out that the issue is apparently highly debatable and the matter was initially referred to the Special Bench to address the debate and now admitted before the Jurisdictional High Court for adjudication. It was submitted in the context that the assessee has made adequate disclosure of all material facts in the quantum proceedings and therefore, there is no case for furnishing of any inaccurate particulars of income by the assessee. In the circumstances, it was stated that where the quantum issue itself is highly debatable and where the relevant facts are fully disclosed, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stay of penalty as well as debatable aspect involved in the present case, we are inclined to entertain the stay applications and exercise our discretion in favour of the assessee for stay of recovery of balance outstanding of ₹ 5,27,23,794/- tabulated above for a period of six months or till the disposal of the appeal of the assessee by the Tribunal, whichever is earlier. 9. The Registry is directed to fix the relevant penalty appeals for AYs. 2007-08 to 2010-11 for out of turn hearing on 23/04/2020 as announced in the Open Court and informed to the representatives of both the sides. No separate notice of hearing would thus be required to be served. The parties will file all the requisite documents, such as, paper-book etc. well ..... X X X X Extracts X X X X X X X X Extracts X X X X
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