2019 (3) TMI 365

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.....12.2018 under Section 143(3) of the Income Tax Act directing the petitioner to pay a sum of Rs. 3,01,58,680/- (Rupees Three Crores and One Lakh Fifty Eight Thousand Six Hundred and Eighty only) as income tax for the assessment year 2016-17. Aggrieved by the assessment order dated 27.12.2018, passed by the first respondent, the petitioner preferred an appeal before the second respondent under section 246(A) of the Income Tax Act on 27.01.2019. Along with the assessment order dated 27.12.2018, passed by the first respondent, the impugned demand on the same date was sent by the first respondent, demanding a sum of Rs. 3,01,58,680/- as income tax. The petitioner has now challenged the impugned demand made by the first respondent in this Writ P....

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....tain over pitched assessments through several measures resulting in fairer and more reasonable assessment orders, the standard rate of 15% of the disputed demand is found to be on the lower side. Accordingly, it has been decided that the standard rate prescribed in O.M. dated 29.02.2016 be revised to 20% of the disputed demand, where the demand is contested before CIT(A). Thus, all reference to 15% of the disputed demand in the aforesaid O.M. dated 29.02.2016 hereby stand modified to 20% of the disputed demand. Other guidelines contained in the O.M. dated 29.02.2016 shall remain unchanged." 5. As seen from the Official Memorandum, once 20% of the disputed demand is paid, the Assessing Officer shall grant stay of the demand till disposal ....

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....st the demand dated 27.12.2018 before the second respondent on 27.01.2019, raising identical grounds as raised in the instant writ petition. As seen from the averments in the affidavit filed in support of the writ petition, it is the apprehension of the petitioner that the condition for grant of stay before the second respondent is onerous. Since the condition has now been relaxed as seen from the Official Memorandum dated 31.07.2017 read with paragraph (B) of the official memorandum dated 29.02.2016, issued by the Government of India, Ministry of Finance, Central Board of Direct Taxes (CBDT) whereby the petitioner can obtain an order of stay of the demand dated 27.12.2018, by paying 20% of the disputed demand of tax. Therefore, the a....