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<h1>Interim stay on coercive recovery; appellant to deposit 20% of disputed demand in six weeks; verification of 83 creditors remanded</h1> HC granted interim stay on coercive recovery provided the appellant deposits 20% of the disputed demand within six weeks. ITAT's remand to the AO was ... Seeking interim relief not to take coercive action for recovery of the amount as assessed by the AO after remand by ITAT - These appeals are of the year 2024 and will come up of hearing after 5-10 years for final arguments due to the pendency of old cases - ITAT has remanded the matter to the Assessing Officer for limited verification about the credentials of 83 creditors from whom the appellant took a loan and made a repayment. The Tribunal has also made it clear that no addition shall be made in respect of 102 creditors for which the A.O. has already accepted the additional evidence as narrated earlier - HELD THAT:- There shall be no coercive action against the appellant subject to deposit of 20% of the disputed demand as described above within six weeks from today. I.As stand closed. Appeals admitted on the 'sole substantial question of law.' ITAT had remanded for limited verification of credentials of 83 creditors and clarified that 'no addition shall be made in respect of 102 creditors' whose evidence was accepted. Appellant sought stay of coercive recovery; appellant did not produce ledger, profit & loss or other financial documents to show present financial condition. Respondent relied on Office Memorandum dated 31.07.2017 (mandating deposit of 20% of disputed demand on filing appeal) and precedent upholding such directions (Allahabad Development Authority v. Commissioner of Income Tax [2023] and PPK Newsclick Studio (P.) Ltd. v. Dy. CIT [2024]). Assessing Officer, on compliance with ITAT directions, passed orders confirming additions and demands: Rs. 4,58,53,030 for 2017-18 (including unexplained cash credit u/s 68 Rs. 3,57,27,675) and Rs. 1,36,52,680 for 2018-19 (including unexplained cash credit u/s 68 Rs. 51,50,000). 'There shall be no coercive action against the appellant subject to deposit of 20% of the disputed demand' within six weeks. I.As closed; matters listed for final hearing.
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