https://www.taxtmi.com/caselaws?id=279032 The Appellate Tribunal ITAT Chennai partially allowed the Stay Petitions filed by the assessee, granting relief from an outstanding demand of Rs. 9,33,16,430 resulting from incorrect income computation by the Assessing Officer. Despite no clear prima facie case, the Tribunal acknowledged the assessee's hardships due to bank account attachments and directed payment of installments to lift the attachments. The assessee was required to pay Rs. 50.00 lakhs monthly starting by 31.12.2018, with bank attachments lifted upon each installment receipt. Failure to comply or seek unjustified adjournments would result in cessation of the stay. en-us Fri, 21 Dec 2018 00:00:00 +0530 Fri, 01 Mar 2019 07:34:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279032 The Appellate Tribunal ITAT Chennai partially allowed the Stay Petitions filed by the assessee, granting relief from an outstanding demand of Rs. 9,33,16,430 resulting from incorrect income computation by the Assessing Officer. Despite no clear prima facie case, the Tribunal acknowledged the assessee's hardships due to bank account attachments and directed payment of installments to lift the attachments. The assessee was required to pay Rs. 50.00 lakhs monthly starting by 31.12.2018, with bank attachments lifted upon each installment receipt. Failure to comply or seek unjustified adjournments would result in cessation of the stay. Case-Laws Income Tax Fri, 21 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279032