We've upgraded AI Tools on TaxTMI with two powerful modes:
1. Basic • Quick overview summary answering your query with references• Category-wise results to explore all relevant documents on TaxTMI
2. Advanced • Includes everything in Basic • Detailed report covering: - Overview Summary - Governing Provisions [Acts, Notifications, Circulars] - Relevant Case Laws - Tariff / Classification / HSN - Expert views from TaxTMI - Practical Guidance with immediate steps and dispute strategy
• Also highlights how each document is relevant to your query, helping you quickly understand key insights without reading the full text.Help Us Improve - by giving the rating with each AI Result:
Extension granted on stay of demand for assessment year 2010-11 The Tribunal granted an extension of the stay on the demand amounting to Rs. 71,12,41,378 already stayed by the Tribunal for the assessment year 2010-11 ...
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.
Extension granted on stay of demand for assessment year 2010-11
The Tribunal granted an extension of the stay on the demand amounting to Rs. 71,12,41,378 already stayed by the Tribunal for the assessment year 2010-11 for a further 180 days from the date of the order or until the appeal's disposal, whichever is earlier. The extension was allowed due to the factual position and circumstances, including the partial payment already made by the assessee and delays in the appeal process not attributable to the assessee.
Issues: Stay application for extension of demand amounting to Rs. 71,12,41,378 already stayed by the Tribunal for assessment year 2010-11.
Analysis: 1. The appellant sought an extension of the stay on the recovery of demand amounting to Rs. 71,12,41,378 already stayed by the Tribunal for the assessment year 2010-11 until the appeal's disposal. 2. The Tribunal had initially granted a stay on the recovery of demand of Rs. 112,29,02,350 with a direction to adjust a refund of Rs. 41,16,60,980 due to the assessee for AY 2007-08. The appellant's counsel argued that 36% of the total outstanding demand had already been recovered by the Revenue, and there was no change in circumstances, hence requested a six-month extension of the stay. 3. The Revenue opposed the extension of stay without further payment of tax. 4. The Tribunal noted that the stay granted earlier was extended for a period of 180 days or until the appeal's disposal, whichever is earlier. Due to the Covid-19 pandemic, the Hon'ble Bombay High Court extended all interim orders, including the stay, till 30.04.2020 and subsequently till 31.01.2021. 5. The appeal could not be disposed of due to various reasons, not attributable to the assessee. The case was scheduled for a hearing before the Tribunal on 23.02.2021. The assessee had already paid Rs. 41,16,60,980 out of Rs. 1,12,29,02,350, which accounted for 36% of the demand. 6. Considering the factual position and circumstances, the Tribunal granted the extension of the stay on the demand for a further 180 days from the date of the order or until the appeal's disposal, whichever is earlier. 7. The stay application was allowed, and the order was pronounced in the open Court on 19/02/2021.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
• Category-wise results to explore all relevant documents on TaxTMI
Help Us Improve - by giving the rating with each AI Result:
TaxTMI 
TaxTMI 
