2013 (2) TMI 880

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....avali Narayan, C.A. Respondent by : Shri Farahat Hussain Qureshi, CIT-II(DR) ORDER N.V. Vasudevan, The assessee has filed the above application praying for an order of stay of recovery of outstanding demand of ₹ 1,28,14,177. 2. The original outstanding demand on account of tax and interest was ₹ 1,68,14,177. The assessee had made a payment of ₹ 20 lakhs on 22.11.2012 an....

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....stand. It was also submitted that the assessee is in a very bad financial position and in this regard, a copy of the bank statement as on 30.01.2013 was filed which shows that the assessee has cash balance of only ₹ 15,27,783. Taking into consideration the existence of a prima facie case, balance of convenience and hardship, it was prayed that the recovery of outstanding demand should be sta....