TaxTMI 
TaxTMI 
2020 (2) TMI 1641
X X X X Extracts X X X X
X X X X Extracts X X X X
....ri S. K. Madhuk, CIT (DR). ORDER PER T.S. KAPOOR, A.M.: This Stay Petition has been filed by the assessee with a request to stay the recovery of demand of Rs.3,01,83,05,459/- till disposal of the appeal. 2. The demand has risen due to addition made by the Assessing Officer by rejecting the exemption under section 11 of the Act by holding that the assessee had given benefit to its employees by....
X X X X Extracts X X X X
X X X X Extracts X X X X
....in the management of the assessee Parishad. He further submitted that they are also not entrusted with taking managerial/strategic decisions. Moreover, the benefit to the employees has been given as a declared policy as notified in the Parishad Rules. In this regard, our attention was invited to para 36 of the Parishad rules and therefore, it was argued that there is no violation on the part of th....
X X X X Extracts X X X X
X X X X Extracts X X X X
....of the ld. Counsel for the assessee that the employees of the assessee Parishad are not covered by the provisions of section 13(3) of the Income Tax Act. The ld. D.R. heavily placed reliance on the following case laws for the proposition that the employees are covered for the purpose of violation of section 13(3) of the Act: 1. CIT vs. Awadh Educational Society, dated 13/9/2011 (Alld) 2. DIT v....
X X X X Extracts X X X X
X X X X Extracts X X X X
....far as regards the discharge of their duties under the Parishad; and that the specific requirement of the section is concerning Managers and not employees. Therefore, the assessee has a prima facie case in its favour and as such the balance of convenience is also in its favour. However, keeping in view the interest of justice to both the parties, we direct the assessee to deposit an amount of Rs.2....