2014 (8) TMI 1204

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.... ORDER Sanjay Garg,  The present stay application has been moved by the assessee seeking the stay of demand of Rs. 43,63,744/- comprising of following: i) Tax (Rs. 16,57,972 - Rs. 12,96,205) - Rs. 3,61,767/- ii) Interest - Rs. 25,66,561/- iii) Recovery of Refund issued -  Rs. 14,35,416/- 2. It has been contended that the assessee company is in the business of manufacturi....

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....earlier years against income under the head "Capital Gain" resulting in revised assessed income of Rs. 81,27,315/-. 3. In appeal, the ld. CIT(A) vide his order dated 05.09.13 (impugned order) granted the relief to the assessee to the extent of Rs. 2,12,915/- relating to the additions made under section 68 of the Act, however confirmed the additions on other issues. The assessee thus has preferred....

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....ma facie case and if the demand of tax and interest etc. is not stayed the assessee will suffer irreparable loss. On the other hand, the ld. D.R. has contended that the demand of tax has been rightly made from the assessee. 5. We have considered the rival submissions of both the parties. It is the case of the assessee that the inventory which was in the shape of pharmaceutical products had cross....