9911796707
TMI Blog2023 (9) TMI 1542X X X X Extracts X X X X X X X X Extracts X X X X ..... (i.e.) around 10% of the demand raised to the authority concerned, which shall be paid in two equated monthly instalments and the first installment be paid on or before 15.10.2023 and the second/final installment be paid on or before 15.11.2023. It is made clear that the said conditional amount is agreed to be paid by Elgi Rubber Company Limited on behalf of the appellant and in the event of the appellant succeeding before the competent authority, the refund be effected in favour of Elgi Rubber Company Limited, who makes the conditional payment. Any default on the part of the appellant in payment of instalments within the time stipulated, the respondent authorities shall proceed further in the manner known to law. - Honourable Mr.Justice ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h they were informed about the amalgamation, change of PAN and also change of name of the company; and thus, the financial transactions for the year 2014-15 do not relate to the appellant, but they related to its group companies. Thereafter, the second respondent issued a show cause notice dated 23.03.2022. Upon receipt of the same, the appellant sent a communication dated 28.03.2022 treating the explanation sent on 25.02.2022 as its response. Ultimately, the Assessing Officer completed the assessment under section 147 r/w 144 r/w 144B on 29.03.2022, making addition of Rs. 5,13,82,411/- under section 69A of the Act. Feeling aggrieved, the appellant filed rectification petition before the first respondent on 26.04.2022, which was disposed of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... jection for the same. 5. As agreed by the learned counsel appearing for both sides, and also having regard to the fact that the challenge before the writ court was only to rejection of stay order in respect of collection of demand raised against the appellant, till the disposal of the appeal pending before the third respondent, this Court is inclined to pass the following order: (i) The order of the learned Judge passed in the writ petition is set aside. Consequently, the order of the first respondent is modified by granting an order of stay, subject to the condition that the appellant shall pay Rs. 40 lakhs (i.e.) around 10% of the demand raised to the authority concerned, which shall be paid in two equated monthly instalments and the firs ..... X X X X Extracts X X X X X X X X Extracts X X X X
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