2019 (1) TMI 1264

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....YADAV, A.M. The present stay application has been filed by the assessee for seeking stay against the outstanding demand arising from the assessment order passed by the Assessing officer u/s 143(3) dated 30.12.2016 wherein a demand of Rs. 9,12,647/- has been raised on the assessee. 2. The ld. AR of the assessee has submitted that the major demand has arisen on account of the fact that the Assessi....

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....rce of cash deposits and has made an amount of Rs. 29,12,500/-. It was further submitted that out of total demand of Rs. 9,12,647/-, the assessee has already deposited a sum of Rs. 2,18,580/- which is over 20% of the total tax demand and it was accordingly submitted the balance demand may be stayed till disposal of the appeal. 3. The ld. DR is heard who has opposed the stay petition and submitted....