2015 (5) TMI 996

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....DER Per Shri Mahavir Singh, JM: By way of this Stay Application applicant/assessee seeks to stay the outstanding demand of Rs. 93,77,530/-. 2. We have heard rival submissions and gone through facts and circumstances of the case. Brief facts are that the assessee is a partnership firm engaged in the business of clearing and forwarding agency. During the course of assessment proceedings, the AO....

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....ed two bank accounts fraudulently and this receipt of Rs. 2,31,54,644/- was deposited in these two accounts. The assessee in his petition has referred to this fact in para 14, which reads as under: "14. Your petitioner states that the Learned Appellate Authority admitted that the two bank accounts were opened with Saraswat Co-operative Bank, Camac Bhunder Branch at Mumbai vide Account No. 1431001....

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....s of the case." 3. The Ld. Counsel for the assessee also referred to the affidavit of Shri Manish K. Chatwani placed in assessee's paper book at page 47 wherein, according to ld. Counsel for the assessee admitted that this amount belongs to him. The copy of affidavit is enclosed at pages 47 and 48 of assessee's paper book. 4. We have gone through the affidavit of Shri Manish K. Chatwani dated 28....

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....t of challan to the AO positively by 10th June, 2015 and accordingly AO will report to the Bench that the payment has been made. ii) The assessee will pay next installment of Rs. 10 lakh on or before the last day of the month i.e. 30.06.2015. The installments will continue on monthly basis till the disposal of the appeal, accordingly and in case revenue seeks adjournment the payment of installmen....