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TMI Blog2020 (4) TMI 456X X X X Extracts X X X X X X X X Extracts X X X X ..... d the prima facie case, balance of convenience and financial hardship, if any, of the petitioner. Stay Granted - Let the appeal be decided by the Commissioner of Income-Tax (Appeals) within a period of four months from the date of receipt of an authenticated copy of the order. - WRIT PETITION NO.812 OF 2020 - - - Dated:- 13-3-2020 - UJJAL BHUYAN MILIND N. JADHAV, JJ. Mr.D.H.Jain with Ms.Radha Halbe, Advocate for the Appellant. Mr.Sham Walve with Mr.Pritish Chatterji, Advocate for the Respondents. P.C.:- 1. Heard Mr.D.H.Jain, learned counsel for the petitioner; and Mr.Sham Walve, learned standing counsel, Revenue for the respondents. 2. This petition filed under Article 226 of the Constitution of India assail ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 5. Pursuant to the order of assessment, respondent No.1 as the Assessing Officer issued notice on demand dated 21st December, 2019 to the petitioner under Section 156 of the Act calling upon him to pay an amount of ₹ 2,17,76,850.00 within the period prescribed. 6. It is seen that against the order of assessment petitioner preferred appeal before the Commissioner of Income Tax (Appeals)-37, Mumbai on 21st January, 2020 bearing acknowledgment No.294193161210120. 7. Simultaneously, petitioner filed an application before respondent No.1 on 28th January, 2020 for stay of demand which was received in the office of respondent No.1 on 29th January, 2020. By the order dated 30th January, 2020, passed under Section 220(6) of the Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome Tax-2, Mumbai. 11. We have heard rival submissions as well as considered the pleadings on record. Only to satisfy ourselves as to whether a prima facie case had been made out by the petitioner seeking stay, we have given our attention to the assessment order dated 21st December, 2019. We find that the assessment order on reopening has been made primarily on the basis of certain entries (in coded language) made in the diary recovered from the premises of Shri Nilesh Bharani in the course of search and seizure under Section 132 of the Act. The finding that the petitioner had lent/provided cash amount of ₹ 3.25 crores to M/s Evergreen Enterprises/Shri Nilesh Bharani was also reached on the statement made by Shri Nilesh Bharani. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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