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TaxTMI 
TaxTMI 
2019 (1) TMI 1060
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....v With Gagan Tiwari, Adv. For The Respondent : Shri K.G. Goyal, Sr. DR ORDER PER MANISH BORAD, A.M. This stay application is filed at the instance of the assessee seeking stay of the outstanding demand of Rs. 1,33,33,80,940/- pertaining to the Assessment Year 2015-16. 2. Ld. Senior Counsel for the assessee referring to the stay application submitted that the impugned demand is merel....
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.... main business consists of making strategical investment in other companies. He further submitted that the assessee has a strong case on merits duly supported by various judgments in favour of the assessee and therefore quite hopeful to succeed in the appeal in case early hearing of the appeal is granted. 4. Ld. Senior Counsel for the assessee also submitted that the assessee company is facing ....
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....l Representative strongly opposed to stay of demand and submitted that the assessee has merely deposited a sum of Rs. 1 crores against the total demand for tax and interest at Rs. 134,33,80,940/-. He also submitted that at least 20% of the outstanding demand should be paid. 7. We have heard rival contentions and perused the records placed before us. Through this stay application assessee has re....
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....ation and are inclined to stay the demand for a period a period of 90 days from the date of the stay order or disposal of the appeal whichever event occurs earlier subject to the fulfillment of the following conditions; (i) Following amounts to be deposited by the assessee against the outstanding demand; Installment Amount To be deposited up to 1st Rs.5 crores 3....