2019 (3) TMI 732

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.... For the Assessee : Shri Nishant Thakkar For the Department : Shri Manish Kumar Singh ORDER PER C.N. PRASAD (JM) 1. Through this Stay Application assessee is seeking stay of outstanding demand of Rs..17,69,06,060/- for A.Y. 2014-15. 2. At the time of hearing the Ld. Counsel for the assessee submitted that the demand for this year was revised to Rs..15,88,06,350/- in the order pas....

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....00/- the stay was granted by the Tribunal. Following the same principle, he requested that the stay may be granted on payment of Rs..1,00,00,000/- for A.Y. 2014-15. 4. On the other hand, the Ld. DR vehemently opposed for granting stay. Ld. DR submitted that Ld. Commissioner of Income-tax by order dated 27.02.2019 granted stay till 30.06.2019 subject to payment of 20% of the outstanding demand w....

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....ations will be at meagre and therefore the assessee is really in short of funds for making full payment of outstanding demand. However, on deliberations and on instructions, Ld. Counsel for the assessee agreed for payment of 15% of outstanding demand before 31 March 2019. 6. Considering the submissions of both the parties and taking the financial conditions and the issue in appeal into consider....