2018 (5) TMI 1309

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....vnish Singh, Advocate Respondent By : Sh. Manjit Singh, Sr.DR ORDER Per Sanjay Garg, Judicial Member The present is an application for Stay of recovery of the demand moved by the assessee till the disposal of the present appeal. 2. The Ld. Counsel of applicant-assessee has submitted that the impugned demand has been raised on account of alleged discrepancy found in the accounts of t....

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....ience lies in favour of the assessee. 3. The Ld. DR, on the other hand, has vehemently stressed for the dismissal of the Stay application stating that assessee had promised to the Revenue authorities to pay the entire tax demand. The Ld. DR has further submitted that the impugned order was passed by the CIT(A) on 10.3.2017. He has further invited our attention to the letter dated 27.2.2018 of t....

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....hat the assessee has been contesting the impugned additions by way of appeal before the Tribunal. He has submitted that assessee presently is in severe financial crunch and if further amount is realized by the Department by way of coercive means, it will severely affect the business of the assessee and assessee will not be able to stand in the market. 5. Considering the above submissions of the....