TaxTMI 
TaxTMI 
2021 (4) TMI 710
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....ts pertaining to the captioned application. It was submitted by the ld., A.R that the Tribunal vide its order dated 8th March, 2019 had stayed the recovery of the outstanding demand subject to a rider that 15% of the rectified demand of Rs. 15,88,06,350/- (including interest) shall be deposited by the assessee on or before 31st March, 2019. It was submitted by the ld. A.R that in compliance to the direction of the Tribunal the assessee had deposited an amount of Rs. 2,38,21,000/- i.e 15% of the aforesaid rectified demand within the stipulated time period. 3. It was submitted by the ld. A.R that the stay on the recovery of the outstanding demand was thereafter extended by the Tribunal vide its order dated 06.09.2019. It was further submitte....
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....demand for the year in question i.e A.Y. 2014-15. At the same time, it was observed by the Tribunal that in case if after adjustment of the refund for A.Y.2012-13 the amount deposited by the assessee still fell short of 20% of the outstanding demand for the year in question then, the assessee would pay the said balance amount. In sum and substance, the Tribunal while extending the stay vide its last order dated 13.03.2020, had observed, that as the assessee had already paid 15% of the outstanding demand thus, to the extent the balance 5% of the outstanding demand was concerned, the same was to be adjusted out of the refund that had accrued in favour of the assessee pursuant to the aforesaid order passed by the Tribunal in its case for AY: 2....
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....foresaid facts, it was averred by the ld. A.R that as the delay in disposal of the appeal was on no occasion attributable to any lapse on the part of the assessee, and in substance 20% of the outstanding demand can safely be held to have been deposited by the assessee and/or lying in its account with the government exchequer, therefore, the application filed by the assessee for extension of the stay on the recovery of the outstanding demand merits acceptance. 7. Per contra, the ld. Departmental Representative (for short 'D.R') submitted that if the assessee had deposited 20% of the outstanding demand, then, he had no objection if the extension of the stay on the recovery of the balance demand is granted. 8. We have heard the authorized re....
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....rve that the Tribunal while extending the stay on the recovery of the outstanding demand vide its aforesaid order dated 13th March, 2020, had after taking cognizance of the fact that the assessee had already paid 15% of the outstanding demand for the year in question, had therein directed the A.O to recover/adjust the balance 5% of the outstanding demand from the refund that had accrued pursuant to the order passed by the Tribunal in its case for A.Y. 2012-13. However, we find that as pointed out by the ld. A.R the department despite the aforesaid specific direction had failed to carry out the necessary adjustment till date. Be that as it may, in our considered view as the delay in disposal of the appeal for the year in question cannot be a....