9911796707
TMI Blog2024 (1) TMI 210X X X X Extracts X X X X X X X X Extracts X X X X ..... n a Documents Identification Number (DIN) - HELD THAT:- We find that at the draft assessment stage, assessee did not appear resulting in completion of assessment to the best of judgment. Of course, in course of proceedings before the DRP, the assessee did furnish additional evidences. However, it is the allegation of the assessing officer that during the remand proceedings, assessee did not comply to various queries raised by him. Considering the prima facie case, balance of convenience and various other factors including the fact that the assessee is a non-resident having no assets in India, to secure the interest of the revenue, we direct the assessee to furnish a bank guarantee covering 20% of the outstanding demand. The bank guarante ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 17-18. 2 We have heard Shri Ajay Vohra, learned senior counsel for the assessee and Shri Sanjay Kumar, learned Departmental Representative. 3. Learned senior counsel, seeking stay on recovery of outstanding demand, submitted that the addition giving rise to the present demand is wholly unsustainable on various grounds. First and foremost, he submitted, reopening of assessment under Section 147 of the Act is bad in law as there is no income chargeable to tax which could have escaped assessment. He submitted, based on certain information coming to the possession of the assessing officer, a high pitched assessment has been made, which has no legs to stand. He submitted, in course of proceedings before the Dispute Resolution Penal, though ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the assessing officer that during the remand proceedings, assessee did not comply to various queries raised by him. 8. Be that as it may, considering the prima facie case, balance of convenience and various other factors including the fact that the assessee is a non-resident having no assets in India, to secure the interest of the revenue, we direct the assessee to furnish a bank guarantee covering 20% of the outstanding demand. The bank guarantee shall be furnished by the assessee before the assessing officer on or before 31st October 2023. Subject to furnishing of bank guarantee, recovery of the outstanding demand shall remain stayed for a period of 180 days from the date of this order or till the disposal of the corresponding appe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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