TaxTMI 
TaxTMI 
2017 (5) TMI 846
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....ey are being disposed of by this Court. Facts of R.P.No. 108/2017 are narrated hereunder. The present review petition has been filed for reviewing order dated 12/1/2017 passed in Writ Petition No. 7779, 7781, 7785, 7788, 7792 and 7794 of 2016. There was a common order passed in all the cases on 12/1/2017. . In fact, the petitions were filed against the order dated 8/11/2016 by which the applications for stay of demand u/S. 220(6) of the Income Tax Act was disposed of by the learned Additional Commissioner, Range 3, Indore. Mr. Manoj Munshi, learned counsel for the petitioner has argued before this Court that the Circular of the Central Board of Direct Taxes ('CBDT') was not taken into account ie., Circular dated 29/2/2016 whil....
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....d of Rs. 5,29,79,618/- and produce counterfoil of challan on or before 28/03/2017 at 11:00 A.M., in the Office of undersigned, failing which coercive measures to recover the demand by invoking various provisions of Chapter XVII-D of the IT Act, 1961 shall be initiated sd/- (P. K. Singi) Dy. Commissioner of Income Tax Circle 3(1), Indore The aforesaid order was passed in the case of Madhya Pradesh Audyogik Kendra Viikas Nigam Ltd., and a similar order has been passed in respect of M/s. SEZ, Indore Ltd., The same reads as under : DY. COMMISSIONER OF INCOME TAX, 3(1) INDORE Room No.306, Aayakar Bhawan Annexe, Opp. White Church, Indore F.No.DCIT-3(1)/IND/Revoery/2016-17 ....
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.... are permitted to deposit 15% of the outstanding demand and the appeal shall be heard on merits. At this stage, Mr. Munshi has argued before this Court that the circular issued by the CBDT dt. 21/8/1996, 6/3/1998 and 16/1/1999 have been considered by the Hon'ble supreme Court and, therefore, in the light of the judgments delivered by the Hon'ble Supreme Court and various High Courts, the petitioner be directed to deposit only 15% of the demand. This Court has carefully gone through the Circulars issued by the CBDT. In the case of Catholic Syrian Bank Ltd., Vs. Commissioner of Income Tax, Thrissur reported in (2012) 3 SCC 784. The Hon'ble Supreme Court in paragraph 18 has dealt with the effect of Circular issued by the CBDT....
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....mand in similar circumstances during the pendency of the appeal. Paragraph 27 and 30 of the aforesaid judgment reads as under : 27. As we observed earlier in the present case by the impugned order dated 14.06.2016 the petitioner was required to deposit 15% of the outstanding demand, namely, Rs. 41.64 crores. This figure attained finality. At the cost of repetition, the Assessing Officer did not refer the matter to the Administrative Pr.CIT for an amount higher than 15% of the amount to be deposited as a condition for stay. This infact indicates that the last sentence in paragraph 5 of the order dated 14.06.2016 granted the Assessing Officer the right to adjust any refund which may arise in favour of the assessee in respect and to t....