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TMI Blog2020 (3) TMI 1289X X X X Extracts X X X X X X X X Extracts X X X X ..... ssment is unreasonably high-pitched and whether the petitioner would be put to genuine hardship because of such assessment. However, in the present case, the Principal Commissioner s order is a non-speaking order without considering either the question of high-pitched assessment or the genuine hardship to the petitioner. Therefore, the impugned order will have to be quashed on this limited ground and the petitioner s application restored/ remanded for reconsideration. As the respondents submits that if the petitioner were to appear before the Principal Commissioner of Income-tax, Hubbali, on March 19, 2020, the petitioner will be heard afresh on the merits of its application for stay and exemption from deposit of the minimum of 20 per cent. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... um deposit of 20 per cent. ignoring Instruction No. 1914 and the subsequent Official Memorandum/Circular dated February 29, 2016. The learned counsel for the petitioner submits that the Principal Commissioner of Income-tax in the light of Instruction No. 1914 and the subsequent Official Memorandum/Circular dated February 29, 2016, while considering an application for stay, had to consider whether the assessment by the Assessment Officer is an unreasonably high-pitched assessment and whether the petitioner is put to genuine hardship because of such assessment. The learned counsel for the petitioner relies upon the decision of this court in Flipkart India (P.) Ltd. v. Asst. CIT [2017] 396 ITR 551 (Karn) ; [2017] 79 taxmann.com 159 (Karn) in s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of high-pitched assessment or the genuine hardship to the petitioner. Therefore, the impugned order will have to be quashed on this limited ground and the petitioner's application restored/ remanded for reconsideration. 6. At this stage, the learned counsel for the respondents submits that if the petitioner were to appear before the Principal Commissioner of Income-tax, Hubbali, on March 19, 2020, the petitioner will be heard afresh on the merits of its application for stay and exemption from deposit of the minimum of 20 per cent. of the demand. For the foregoing, the writ petition is partly allowed quashing the order dated February 26, 2020 restoring the petitioner's application for stay for reconsideration in accordance with th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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