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TMI Blog2025 (1) TMI 1008X X X X Extracts X X X X X X X X Extracts X X X X ..... Member For the Petitioner : Shri B. Ramakrishnan, Ms. M. Lavanya and Shri. Ramesh Babu, C.As. For the Respondent : Shri. Krishnakumar, IRS, JCIT. ORDER MANU KUMAR GIRI (JUDICIAL MEMBER) The assessee has filed present stay applications seeking stay for outstanding demand of tax for AY 2017-18 u/s 10(3) and u/s 12 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the description of demand raised, demand raised in INR, 20%-Amount in INR, Payments/Adjustment in INR etc. as under: AY Description of demand raised Amount in INR 20%-Amount in INR Balance 80% in INR Payments/Adjustments in INR Remarks 2016-17 Penalty u/s. 42 of BM Act 10,00,000 2,00,000 8,00,000 2,00,000 2017-18 Quantum -u/s.10(3) of BM Act 6,03,24,717 1,20,64,943 4,82,5 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... yed for a period of 6 months or till disposal of the appeal whichever is less. 4. The ld. DR, Mr. Krishnakumar, JCIT, fairly agreed that stay may be granted subject to verification of statutory requirement of payment of taxes by the appellant. Since, the appellant has claimed that she has paid/adjusted part of 20% of the disputed demand as per column 5 of stay applications, the stay may be grante ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essment years will be paid in three installments on or before the 31.03.2025. Therefore, considering the facts and circumstances of the case and also fact that the ld. AR of the appellant has given assurance that the appellant will satisfied the balance payment of 20% disputed demand on or before 31.03.2025, in our considered view, it is a fit case for granting stay for balance outstanding demands ..... X X X X Extracts X X X X X X X X Extracts X X X X
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