2015 (10) TMI 1755

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...., and Mr. B. Narasimha Sharma, learned Standing Counsel for the respondents. 3. The exemption claimed by the petitioner for the amount deposited under the Capital Gains Account Scheme, under Section 54(2) of the Income Tax Act, came to be rejected by the 1st respondent/Assessing Officer. Further, the petitioners claim for exemption on the amount paid after filing of the return also came to be rejected. The petitioner filed an appeal before the 4th respondent and the same is pending. During pendency of appeal, the petitioner filed an application before the Assessing Officer/1st respondent seeking stay of the impugned demand, but the same came to be rejected. Incidentally, it is the same Assessing Officer who passed the Assessment Order. T....

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....s to issues that have been decided in assessees favour by an appellate authority or court earlier; or (b) if the demand in dispute has arisen because the Assessing officer had adopted an interpretation of law in respect of which there exist conflicting decisions of one or more High Courts (not of the High Court under whose jurisdiction the Assessing Officer is working); or (c) if the High Court having jurisdiction has adopted a contrary interpretation but the Department has not accepted that judgement. It is clarified that in these situations also, stay may be granted only in respect of the amount attributable to such disputed points. Further, where it is subsequently found that the assessee has not cooperated in the early....

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....tion viz, that he agrees to treat the assessee as not being in default in respect of the amount specified, subject to such conditions as he deems fit to impose. (v) While considering an application under Section 220(6), the Assessing Officer should consider all relevant factors having a bearing on the demand raised and communicate his decision in the form of a speaking order. 5. Apart from this, the Assessing Officer is required to act in a fair manner and need to consider the stay petition independently and pass a speaking order stating reasons as to why the stay application of the petitioner is not required to be considered, as the order passed by the Assessing Officer may either be upheld or otherwise revised by the appellate....