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of <h1>High Court Upholds ITAT Decision on Stay Order in Tax Appeal</h1> <h3>M/s Hardayal Charitable And Educational Trust Versus Commissioner Of Income Tax Agra</h3> M/s Hardayal Charitable And Educational Trust Versus Commissioner Of Income Tax Agra - TMI Issues: Application for stay of demand before Income Tax Appellate Tribunal, Agra, Bench in S.A. No.01/Agra/2012 for assessment year 2011-12.In the judgment delivered by the High Court, the appellant had made an application for stay before the Income Tax Appellate Tribunal, Agra, Bench in S.A. No.01/Agra/2012, arising from the order of the C.I.T. (A), related to the assessment year 2011-12. The appellant requested a complete stay of the demand amounting to Rs. 3,27,68,450, having already deposited Rs. 30 lacs earlier. The Tribunal observed that the assessee was still in the process of constructing a building for charitable purposes and disputed the Assessing Officer's treatment of corpus donation as the assessee's income. The department argued that the assessee failed to submit the audit report and prove the trust's genuineness. Consequently, the Tribunal granted a conditional stay order, directing the assessee to deposit an additional Rs. 30 lacs by a specified date. If compliance was met, recovery of Rs. 2,97,68,450 was to remain stayed for six months or until the appeal's final decision, whichever was earlier. The High Court, after considering the facts, concluded that no question of law arose in the appeal challenging the Tribunal's order and dismissed the appeal accordingly.
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