2017 (9) TMI 482

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....e Court :- An order dated July 28, 2017 passed by the Income Tax Appellate Tribunal `B' Bench, Kolkata, refusing to stay an order of collection of taxes outstanding for the assessment years 2010-2013, is under challenge in this writ petition. Learned Senior Advocate for the petitioner submits that, the issue under consideration in such assessment years is receiving the consideration of the Hon'....

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....concerned assessment years is Rs. 2,00,983,498/- as against that, the petitioner had already deposited a sum of Rs. 1,50,00,000/-. He submits that, in the event the Court is pleased to consider grant of stay of coercive measures on any condition, then the Court should take into consideration the amount of tax already paid. I have considered the rival contentions of the parties and the materials....

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....ant of stay as the balance of convenience is not in favour of the assessee. It has noticed that the assessee does not suffer from any financial stringency. In the facts of the present case, it would be appropriate to secure the principal amount of the claim of the Department without the necessity of recourse to any coercive measures to the extent possible. In such circumstances, the order of....