9911796707
TMI Blog2024 (6) TMI 825X X X X Extracts X X X X X X X X Extracts X X X X ..... he guidelines issued by the Central Board of Direct Taxes dated 29th February, 2016 including Instruction No. 1914 dated 2nd February, 1993 as well as Office Memorandum dated 31st July, 2017. Although ordinarily where an assessee files an appeal disputing the demand, stay may be granted upon payment of 20% of the disputed demand, however, exceptional circumstances have also been noted in the Memorandum dated 29th February, 2016 Thus taking note of the case made out by the petitioner, the petitioner is directed to make payment of a sum of Rs. 40 lakhs with the assessing officer. If such payment is made within a period of eight weeks from date, the demand dated 7th April, 2021 issued under Section 156 of the said Act shall remain stayed till ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as transferred to the National e-assessment centre in October, 2020. Though, the Assessing Officer by notice dated 3rd March, 2021 issued under Section 142 (1) of the said Act, had called upon the petitioner to provide certain clarification, the petitioner claims that the petitioner could not comply with such direction due to nation-wide lock down and due to unavoidable circumstances arising out of CAA protest in Assam and West Bengal. Subsequently, the order under Section 143 (3) read with Section 144B of the said Act, was issued on 7th April, 2021. The same was followed by a demand notice issued under Section 156 of the said Act on 7th April, 2021 itself. 3. Being aggrieved, the petitioner has preferred an appeal from the aforesaid order. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... direct an assessee to make payment of 20% of the disputed tax. Considering the financial stress that the petitioner would suffer, this Court may be pleased to treat the petitioner as not in default till the disposal of the appeal as the petitioner has good chance of success in the appeal. 5. Mr. Rai, learned Advocate representing the respondents, has placed before this Court the Office Memorandum dated 29th February, 2016 including the Instruction No. 1914 issued by the Central Board of Direct Taxes. He submits that the guidelines have been framed in relation to disposal of cases under Section 220 (6) of the said Act. According to Mr. Rai, there is no irregularity on the part of the assessing officer in directing the petitioner to deposit 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5% of the disputed demand, unless the case falls in the category discussed in para (B) hereunder. (B) In a situation where, (a) the assessing officer is of the view that the nature of addition resulting in the disputed demand is such that payment of a lump sum amount higher than 15% is warranted (e.g. in a case where addition on the same issue has been confirmed by appellate authorities in earlier years or the decision of the Supreme Court or jurisdictional High Court is in favour of Revenue or addition is based on credible evidence collected in a search or survey operation. etc.) or, (b) the assessing officer is of the view that the nature of addition resulting in the disputed demand is such that payment of a lump sum amount lower than 15% ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le period (say 6 months) or if the assessee has not co-operated in the early disposal of appeal, or where a subsequent pronouncement by a higher appellate authority or court alters the above situations; (iii) reserve the right to adjust refunds arising, if any, against the demand, to the extent of the amount required for granting stay and subject to the provisions of section 245. 7. Having regard to the aforesaid and taking note of the case made out by the petitioner, the petitioner is directed to make payment of a sum of Rs. 40 lakhs with the assessing officer. If such payment is made within a period of eight weeks from date, the demand dated 7th April, 2021 issued under Section 156 of the said Act shall remain stayed till the disposal of ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
