2013 (12) TMI 1424

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...., Amritsar-respondent No. 2, vide which 75% payment of outstanding demands in dispute stands stayed during the pendency of appeal and the petitioner-Trust has been directed to deposit the remaining 25% of the outstanding demand in dispute on or before 31.12.2013 for the assessment years 2004-05 and 2005-06, failing which the stay shall automatically stands vacated. It is the contention of the counsel for the petitioner that the petitioner is to be assessed as a Charitable Trust under the Income Tax Act, 1961 (hereinafter referred to as 'the Act') and, therefore, there can be no liability to pay the tax. He has referred to the order dated 31.10.2008 (Annexure P-3) passed by this Court, vide which the appeal preferred by the department und....

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....ax Appellate Tribunal to decide the application of the petitioner for stay on 29.11.2013 i.e. the date already fixed before the Tribunal or within a week thereafter. The impugned notice dated 07.11.2013 (Annexure P-12) was ordered to be kept in abeyance for a period of 15 days w.e.f. 27.11.2013, the date of decision. It is in pursuance thereto that the present impugned order has been passed by the Tribunal, which is assailed by the petitioner. Counsel for the petitioner contends that even the 25% of the assessed liability, which has been directed to be deposited by the petitioner, is not sustainable as the petitioner is running in losses. He has referred to the Division Bench judgment of the Delhi High Court in the case of Taneja Develop....