TaxTMI 
TaxTMI 
2012 (11) TMI 345
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....the Respondent. ORDER Chandramohan Garg, Judicial Member - These stay applications have been filed by the assessee praying for extension of stay of outstanding demand from AY 2000-01 to 2006-07. 2. Briefly stated, the facts giving rise to these stay applications are that the assessee was granted stay of collection of taxes by this Bench on 12.03.2012 for a period of six months or till the dispo....
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....dy been heard and awaiting adjudication and the outstanding demand for AY 2007-08 has been stayed in stay application no. 135/D/2012 (In ITA No. 5343/D/2010) by order dated 9-7-2012 for a further period of six months from the date of order or till disposal of appeal, whichever is earlier. 5. Ld. DR placed his reliance on the judgment dated 5-7-2012 of Hon'ble High Court of Karnataka in the case o....
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....2007-08 along with seven appeals related to these stay applications in hand have been heard. He has no serious objection in extension of stay. 7. The assessee's representative relied on the judgment of Bombay High Court in the case of CIT v. Ronuk Industries Ltd. [2011] 333 ITR 99, wherein it was held that the stay of outstanding demand can be extended beyond a period of 365 days. As per the prov....
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....f third proviso to Section 254(2A) of the Act w.e.f. 1.10.2008. 8. On careful consideration of submissions and facts and circumstances of the case in the light of citations placed before us, at the outset, we observe that ITAT Mumbai Special Bench in the case of Narang Overseas (P) Ltd. v. Asstt. CTT [2008] 111 ITD 1 (Mum.) (SB) held that if there be cleavage of opinion amongst different High Cou....