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TMI Blog2022 (2) TMI 822X X X X Extracts X X X X X X X X Extracts X X X X ..... tion 220 (6) of the Income Tax Act, 1961 vide Ciruclar Instruction No.1914 dated 20.02.1993 - HELD THAT:- This writ petition is disposed by directing the respondents not to encash the bank guarantee or the amounts lying in deposit pursuant to order of this Court pending further orders by the CIT Appeals. In case, adverse orders are passed and appeal is filed by the petitioner within the time stipulated under the provisions of the Income Tax Act, 1961 total recovery cannot exceed 20% in terms of circular issued under Section 220 (6) of the Income Tax Act, 1961 and excess lying as security shall be refunded back to the petitioner. - W.P.No.1360 of 2022 And W.M.P.No.1475 of 2022 - - - Dated:- 1-2-2022 - Honourable Mr.Justice C.Saravanan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the proceedings before the High Court in W.P.No.7354 of 2018. 4. In the aforesaid writ petition an interim order came to be passed and later a final order. The matter travelled upto the Division Bench which affirmed the order of the Learned Single Judge vide order daed 06.09.2019 in W.A.No.2063 of 2019. Aggrieved by the same, the petitioner had preferred S.L.P.No.1992 of 2020. 5. The Hon'ble Supreme Court by its order dated 04.03.2020, in which relevant paragraph No.18 is as follows:- 18. In the peculiar facts and circumstances of the present case, while disposing of this Appeal, we direct:- (a). The Communication dated 22.03.2018 shall be treated as a show cause notice calling upon the appellant to respond with regard ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ank guarantee furnished cannot be countenanced in the light of the circular of CBDT issued for the purpose of Section 220 (6) of the Income Tax Act, 1961 vide Ciruclar Instruction No.1914 dated 20.02.1993. 8. The learned senior counsel further submits that the Hon'ble Supreme Court has also passed an order in LG ELECTRONIC INDIA PVT. LTD. Vs. CIT 2018 8 SCC 447 and has clarified that in all similar cases it deposit of an amount lesser than 20 per cent can be entertained pending appeal in the facts of each case. 10. The learned senior counsel for the petitioner further submits that the amount is lying un-utilized and is un-productive for a period of over four years since 2018. It is submitted that even if in a worst case scen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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