https://www.taxtmi.com/caselaws?id=456503 ITAT Mumbai vacated stay of recovery against assessee after finding no bona fide grounds for adjournment. Assessee sought adjournment citing pending related appeals in another case (NSEIL) but failed to demonstrate similarity of facts or circumstances despite multiple requests. The tribunal held that mere pendency of appeals in other cases cannot justify adjournment or continuation of stay. Considering assessee's role as clearinghouse for National Stock Exchange serving millions of investors, tribunal granted facility to pay outstanding taxes for AY 2015-16 and 2017-18 in three equal instalments by October 2023. Appeals adjourned to December 5, 2023. en-us Wed, 04 Oct 2023 00:00:00 +0530 Tue, 30 Jul 2024 20:10:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456503 ITAT Mumbai vacated stay of recovery against assessee after finding no bona fide grounds for adjournment. Assessee sought adjournment citing pending related appeals in another case (NSEIL) but failed to demonstrate similarity of facts or circumstances despite multiple requests. The tribunal held that mere pendency of appeals in other cases cannot justify adjournment or continuation of stay. Considering assessee's role as clearinghouse for National Stock Exchange serving millions of investors, tribunal granted facility to pay outstanding taxes for AY 2015-16 and 2017-18 in three equal instalments by October 2023. Appeals adjourned to December 5, 2023. Case-Laws Income Tax Wed, 04 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456503