2003 (4) TMI 499

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....pondent. ORDER S.R. Chauhan, J.M. - This Stay Application has been filed by the petitioner-assessee-appellant in the case of ITA Nos. 1745 to 1747/M/03 for assessment years 1994-95 to 1996-97. 2. We have heard the arguments of both the sides and have also perused the record. 3. In this S.A. the petitioner appellant seeks this Tribunal to stay the demand outstanding against the petitioner-appel....

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....ide in accordance with law. 4. Considering the rival contentions as also the facts of the case together with the above referred decision of ITAT, Bombay, we find that the issue is covered in favour of assessee in as much as the Bombay Tribunal has in the above referred decision, held that one S.A. can be filed in respect of several appeals and several assessment years of an assessee when all the ....

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....s contended that the assessee does not have liquid cash to pay off the demand. He has also contended that the assessee has filed returns with 'Nil' income in each one of three assessment years involved in the appeals in hand being assessment years 1994-95 to 1996-97 but the income in the three years has been assessed too high. He has contended that in the interest of justice, the demand outstandin....