TaxTMI 
TaxTMI 
2020 (3) TMI 401
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....ner has challenged the impugned notice issued under Section 143 of the Income Tax Act, 1961, copies of which are produced as Annexures-A1 and A2 and has also challenged the order dated 13.12.2019, copy of which is enclosed as Annexure-B and the demand pursuant to the assessment order at Annexure-C dated 13.12.2019. 2. The petitioner submits that as against the assessment order at Annexure-B, an a....
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....y of the detailed representation made to the Principal Commissioner of Income Tax detailing various contentions, justifying stay of recovery of demand and making out a case that the demand is high pitched and has also contended that the assessment order has disallowed expenditure of Rs. 6,53,34,735/- as allowable under Section 37(1) of the Income Tax Act, 1961, as the said amount was already decla....
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....a Private Limited v. The Assistant Commissioner of Income Tax (W.P.Nos.1339-1342/2017 decided on 23.02.2017) and apply his mind and pass a considered order. It is contended that the contents of stay application make out a case for consideration of relaxing the condition as sought for. 6. Learned counsel appearing for the Revenue submits that the petition is premature and no doubt, the Principal C....
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....of M/s. Shriram Finance v. Principal Commissioner of Income Tax (1) and Others (W.P.No.5425/2019 & W.P.Nos.6166 & 6168/2019 decided on 01.03.2019) wherein, certain guidelines have been referred to in para-5 which may be taken note of. So also the manner of exercise of power of the Principal Commissioner of Income Tax is detailed in Flipkart's case (supra) at paras - 18 and 19, which needs to b....