https://www.taxtmi.com/caselaws?id=764760 The HC dismissed the petition seeking a full stay of a Rs. 5.86 crore demand, directing the petitioner to pay 20% in six installments. The court found the additions for non-genuine purchases justified based on detailed investigation and incriminating documents from a search action. The petitioner failed to demonstrate financial incapacity or a prima facie case for a complete stay. The HC held that the issue of genuineness of purchases is factual and not covered by cited precedents. The petition was viewed as an attempt to delay recovery, and the court refrained from interfering with the assessment order, dismissing the petition without costs. en-us Tue, 14 Jan 2025 00:00:00 +0530 Mon, 04 Aug 2025 15:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764760 The HC dismissed the petition seeking a full stay of a Rs. 5.86 crore demand, directing the petitioner to pay 20% in six installments. The court found the additions for non-genuine purchases justified based on detailed investigation and incriminating documents from a search action. The petitioner failed to demonstrate financial incapacity or a prima facie case for a complete stay. The HC held that the issue of genuineness of purchases is factual and not covered by cited precedents. The petition was viewed as an attempt to delay recovery, and the court refrained from interfering with the assessment order, dismissing the petition without costs. Case-Laws Income Tax Tue, 14 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764760