2019 (2) TMI 1379

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..... C. Sandeep, CA For the Revenue : Shri. R. N. Siddappaji, Addl. CIT ORDER PER JASON P BOAZ, ACCOUNTANT MEMBER This Stay Petition (SP) arises out of the assessee's appeal in IT(TP)A No.3282/Bang/2018 for Assessment Year 2014-15. 2. Briefly stated, facts of the matter are as under: 2.1 The assessee, a company engaged in business activities relating to real estate, builders, designers, archite....

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....tification order passed by the AO under section 154 of the Act dated 04.12.2018, the total demand outstanding was recomputed at Rs. 9,29,93,360/- (inclusive of interest of Rs. 3,29,97,635/-) charged under section 234B of the Act. 3. The learned AR for the assessee submitted that the assessee has a good case on merits and since it has financial hardship, it is not in a position to pay any portion ....

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.... amount towards the outstanding tax demand raised, we are of the view that this is not a fit case for grant of stay on recovery of the outstanding demand of Rs. 9,29,93,360/- and accordingly dismiss the assessee's stay petition. On the request of both the parties, the hearing in this case which was fixed for 28.06.2019, stands preponed and early hearing is granted on 13.03.2019. Since the date of ....