TaxTMI 
TaxTMI 
2020 (4) TMI 759
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....mbai is not functioning at present, in view of the lockout and in view of guidelines of the Government of Maharashtra, it was considered appropriate to hear this stay petition, through web based video conferencing, from home offices of the respective Members of this coram. 2. By way of this petition, the assessee applicant seeks vacation of coercive measures against recovery of Rs. 2,91,05,660, in respect of the remaining demands for interest and penalty for being assessee in default, in respect of the assessment year 2010-11. Out of total demand of Rs. 6,47,75,090, the assessee applicant has already paid Rs. 3,56,69,430, which is little more than the tax component of Rs. 3,48,13,919, and the balance outstanding demand represent interest a....
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.... Municipal Corporation, by issuing garnishee notices to them under section 226(3). The work of the assessee has now come to standstill. It is also submitted that the assessee is not in a position to pay its labourers, even though there are directions from the Government to pay the labourers, support staff and other employees, and to take care of them. It is also stated that the assessee applicant also moved to Hon'ble Bombay High Court for immediate intervention, so as to enable the assessee to take care of its employees, but when the matter was taken up, at the time of mentioning, "it was suggested that the applicant should approach the ITAT first". The assessee is now in stay petition before us. The assessee has also informed us that in t....
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....will have nothing further to pay. In these circumstances, the legitimate interests of the revenue cannot be prejudiced by our grant of stay on the remaining outstanding dues which are primarily on account of levy of interest, and consequential levies. In view of the above discussions, as also bearing in mind entirety of the case, we deem it fit and proper to grant a stay on collection/ recovery of the outstanding demands of Rs. 2,91,05,660 till the disposal of appeal or till the end of six months from the date of this order- whichever is earlier, subject to the following conditions: (a) Any amount available to the assessee, as a result of this stay order and as a result of garnishee proceedings being lifted, will be first used for making ....