Assessee must deposit additional sum for pending appeal; Department barred from coercive actions. Compliance needed to avoid adjournment.

The ITAT Jaipur Bench directed the assessee to deposit an additional sum to stay the balance demand pending appeal, with the Department prohibited from taking coercive actions. The matter was set for a hearing, requiring the assessee to comply with specific instructions to avoid adjournment. The stay application was resolved based on these directives issued in open court.

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Issues: Stay of demand pending appeal before ITAT Jaipur Bench

Analysis:
The stay application arose from ITA No. 124/JP/2020 for A.Y 2014-15 where the assessee sought relief against a cumulative demand of Rs. 3,10,31,670 raised under section 156 based on the assessment order dated 29.12.2018. The assessee declared a total income of Rs. 62,94,620, but the assessing officer determined the total income at Rs. 8,14,02,210 by adding Rs. 7,51,07,591 as alleged bogus Long Term Capital Gain.

The assessee appealed before the CIT(A)-1, Jaipur against the assessment order and requested a stay of demand by paying Rs. 50,62,022 as per CBDT instructions. The CIT(A)-1 dismissed the appeal on 16.01.2020, confirming the addition and resulting in a remaining demand of Rs. 2,59,69,650. The assessee highlighted that the CIT(A) went against various direct judgments passed by the jurisdictional ITAT Jaipur Bench.

Considering the submissions, the ITAT Jaipur Bench directed the assessee to deposit a further sum of Rs. 15,00,000 by 28.02.2020, in addition to the already deposited amount, to stay the balance demand for three months or until the appeal's disposal. The Department was instructed not to take coercive/recovery steps during this period.

The matter was scheduled for a hearing on 16.03.2020, and the assessee was directed not to seek adjournment and to submit any necessary documents in advance. The stay application was disposed of based on these directions pronounced in the open Court on 07/02/2020.

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