High Court directs Tribunal to waive Rs. 25 crore deposit condition for appeal, expedites hearing The High Court of Bombay directed the Income-tax Appellate Tribunal not to enforce the deposit condition of Rs. 25 crore imposed on the petitioner for a ...
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
High Court directs Tribunal to waive Rs. 25 crore deposit condition for appeal, expedites hearing
The High Court of Bombay directed the Income-tax Appellate Tribunal not to enforce the deposit condition of Rs. 25 crore imposed on the petitioner for a stay against recoveries in an appeal for the assessment year 2011-12. The Court admitted the Writ Petition, ensuring the appeal's hearing proceeds without prejudice and scheduled a final hearing for 3rd February, 2020, to expedite the resolution process.
Issues involved: Challenge to order of Income Tax Appellate Tribunal imposing deposit condition for stay against recoveries in appeal concerning assessment year 2011-12.
Analysis: The High Court of Bombay reviewed the order passed by the Court on 25th September, 2019, where the petitioner challenged the Income Tax Appellate Tribunal's order of 4th September, 2019, requiring a deposit of Rs. 25 crore in two instalments for stay against further recoveries in relation to the appeal for the assessment year 2011-12. The Court noted that the Tribunal and the revenue did not insist on the petitioner depositing the amount. Consequently, the High Court directed that the Tribunal should not enforce the deposit condition, ensuring the appeal's hearing proceeds without prejudice to the parties' rights. The Court admitted the Writ Petition, and the respondents were given a waiver of service.
The High Court's order specified that the Income-tax Appellate Tribunal in Mumbai should not compel the petitioner to deposit the amount as per the Tribunal's order from 4th September, 2019. This directive was issued to safeguard the rights and contentions of all parties involved. Additionally, the order clarified that the Tribunal was not restricted from continuing with the appeal's hearing on the scheduled date or any subsequent date.
The Court scheduled the Writ Petition for a final hearing and disposal on 3rd February, 2020, indicating a clear timeline for further proceedings in the case. This step ensures a structured approach to resolving the matter and moving towards a conclusive decision in a timely manner.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
