2013 (11) TMI 1626

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.... PER D.KARUNAKARA RAO, A.M : This Stay Application by the assessee emanates from ITA No.8290/M/2011 for Assessment Year 2007-08. 2. This Stay application has been filed in continuation of earlier Stay Application Nos.285/M/12, 135/M/13 & 263/M/13. Earlier, all the Stay Applications were allowed conditionally and the assessee complied with the conditions and the assessee provided requisite securi....

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.... the Hon'ble High Court in the case of CIT Vs. Ronuk Industries Ltd, (2011) 54 DTR 290(Bom) and the decision of the Special Bench in the case of Tata Communications Ltd. Vs. ACIT, reported in (2011) 9 ITR 1, the Tribunal is empower to grant extension of Stay beyond the period of 365 days. 3. Learned DR has dutifully opposed the request for extension made by the AR of the assessee. 4. We heard bo....