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TMI Blog2014 (8) TMI 1204X X X X Extracts X X X X X X X X Extracts X X X X ..... nstallments i.e. ₹ 5,00,000/- by 15th September 2014 and further installment of ₹ 5,00,000/- by 15th October 2014, as a part of the amount sought to be recovered from the assessee. Before parting with the order it is pertinent to mention here that our observations made above, while disposing of the present stay application, will not have any bearing at the time of final disposal of the case. - S.A. No.214/M/2014 (Arising out of ITA No.6733/M/2013) - - - Dated:- 22-8-2014 - Shri N.K. Billaiya, Accountant Member And Shri Sanjay Garg, Judicial Member Assessee by: Shri Kirit Sheth, A.R. Revenue by : Shri Abani Kanta Nayak, D.R. ORDER Sanjay Garg , The present stay application has been moved by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l, the ld. CIT(A) vide his order dated 05.09.13 (impugned order) granted the relief to the assessee to the extent of ₹ 2,12,915/- relating to the additions made under section 68 of the Act, however confirmed the additions on other issues. The assessee thus has preferred the present appeal along with the stay application in question before the Tribunal. 4. The ld. A.R. of the assessee has contended that the inventory of ₹ 2,51,00,000/- which is in the shape of pharmaceutical products had crossed its expiry date and had become unfit for human consumption. The value of the same was reduced to zero. The claim of write off of the same was rightly made by the assessee. Even a certificate to the effect that the said products had bec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e, we are of the view that the interest of justice will be well served, if, the demand in question is stayed subject to deposit of ₹ 10 lakhs by the assessee with the Revenue Authorities in two installments i.e. ₹ 5,00,000/- by 15th September 2014 and further installment of ₹ 5,00,000/- by 15th October 2014, as a part of the amount sought to be recovered from the assessee. Before parting with the order it is pertinent to mention here that our observations made above, while disposing of the present stay application, will not have any bearing at the time of final disposal of the case. 7. In the result, subject to our above observations, the application of the assessee is hereby allowed. Order pronounced in the open ..... X X X X Extracts X X X X X X X X Extracts X X X X
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