2020 (3) TMI 401

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..... V. Aravind, Adv ORDER The petitioner 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 again....

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.... the demand. The petitioner has furnished copy 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 Ac....

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....idelines as observed in the case of Flipkart India 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 ....

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....y the High Court of Judicature at Madras in the case 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'....