2018 (3) TMI 1703

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....VIKRAM SINGH YADAV, AM This Stay application has been filed by the assessee against the penalty demand raised by the Assessing Officer u/s 271AAB of the Act which was later on revised u/s 154 of the Act totalling to Rs. 30,00,000/- vide order dated 18.11.2016. 2. The Ld. AR has submitted that the assessee has already deposited Rs. 10,00,000/- of the total outstanding penalty demand of Rs. 30,00....

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.... heard. He has opposed the stay petition and submitted that instead of stay of the balance demand, the assessee may be directed to deposit atleast 50% of the outstanding demand. 4. After hearing both the parties and perused the matter available on record, we find that the assessee has already deposited 1/3rd of the total outstanding demand of Rs. 30,00,000/- and the matter is already listed for h....