9911796707
TMI Blog2014 (3) TMI 1227X X X X Extracts X X X X X X X X Extracts X X X X ..... s, the Tribunal is of the considered view that the balance of convenience is in favour of granting partial stay to the assessee. During the course of hearing, the ld A.R agreed to pay a further sum of Rs.2.50 lakhs and pleaded for the stay of balance amount. D.R submitted that the assessee may be directed to pay a sum of Rs.15.00 lakhs. Having regard to the rival submissions, we direct the assessee to pay a sum of Rs. 10 lakhs (Ten lakhs) in two equal installments. The first installment should be paid on or before 31-03-2014 and the second installment shall be paid on or before 15-04-2014. Subject to the payment of the above instalments by the dates mentioned above, we direct the revenue not to recover the balance amount of tax till the dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsel submitted that the assessee, despite financial difficulties, has already paid a sum of about Rs.30.00 lakhs against the total demand of Rs. 73.87 lakhs. Accordingly, he prayed that the Tribunal may be pleased to stay the recovery of the outstanding demand of Rs. 43.75 lakhs. 3. On the contrary, the Ld. DR objected to the plea of the assessee. The Ld D.R submitted that the Ld. CIT(A) has passed a very reasoned order. Further the assessee has not substantiated its claim of financial difficulty by furnishing proper evidences. The assessee has closed its business and has also sold its assets. Accordingly the Ld D.R submitted that there is no merit in the plea of the assessee. 4. We have heard the rival contentions. The main plea of the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay of balance amount. However, the Ld D.R submitted that the assessee may be directed to pay a sum of Rs.15.00 lakhs. Having regard to the rival submissions, we direct the assessee to pay a sum of Rs. 10 lakhs (Ten lakhs) in two equal installments. The first installment should be paid on or before 31-03-2014 and the second installment shall be paid on or before 15-04-2014. Subject to the payment of the above instalments by the dates mentioned above, we direct the revenue not to recover the balance amount of tax till the date of disposal of the appeal or for a period of six months from the date of this order, whichever period expires earlier. With these directions, the stay application filed by the assessee is disposed of. 7. In the result, ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
