2020 (2) TMI 1094

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....er dated 23rd August, 2019. 2. The ld. Counsel for the assessee submitted that the Tribunal, vide Stay Application No.691/Del/2017, order dated 12th March, 2018 had stayed the realization of outstanding demand for a period of six months or till the disposal of the appeal whichever is earlier. Subsequently, the Tribunal, vide Stay Application No.635/Del/2018, order dated 14th September, 2018 and Stay Application No.311/Del/2019, order dated 23.08.2019, extended the stay on realization of outstanding demand for a further period of six months or till the date of passing of the order whichever is earlier. He submitted that there is no change in the facts from the stay extended earlier till today. Further, non-disposal of the appeal is not at....

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....er hand, strongly opposed the stay application filed by the assessee. She submitted that the assessee has not explained the financial position. Further, the order of the Tribunal for the assessment year 2007-08 is not applicable to the facts of the present case since the Tribunal, while referring the matter for constitution of Special Bench had differed from the views taken by the Tribunal in the order for assessment year 2007-08. She submitted that it is yet to be verified as to whether the MAT credit is allowable to the assessee or not. Since the assessee has not explained its financial position, therefore, no further extension should be granted and the stay application filed by the assessee deserves to be dismissed. 4. The ld. counsel....