1994 (9) TMI 130

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....lso perused the material on record to which our attention was invited during the course of the hearing as also the orders passed by the lower authorities. The learned counsel also furnished to us during the course of the hearing the assessee's financial position vis-a-vis the amounts lying credited to his account in various bank accounts. The balance sheet of the assessee's proprietary business ha....

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....an although his submission was that the other amounts related to the assessee's business. He, however, stated before us that there were corresponding sundry debtors (creditors) to the tune of Rs. 6,18,967 which were required to be discharged. 3. After bringing relevant facts on record the learned counsel urged that the Tribunal be pleased to stay the demand till the disposal of the appeal and i....

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....her observed that if on the date of hearing the assessee applies for an adjournment without reasonable cause, the present order is likely to be vacated and in the event of such an eventuality taking place, the entire demand would become payable immediately. 5. We envisage a situation where the Department is likely to adopt coercive measures even after the fixation of the appeal by the Tribunal ....