2024 (6) TMI 731

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....Ajay Vohra, Sr. Advocate with Ansul Sachhar & Tavish Verma, Advocates For the Respondent : Shri Vivek Kumar Upadhyay, Sr. DR ORDER PER VIKAS AWASTHY, JM: These applications by the assessee for assessment years 2013-14 to 2018- 19 are for seeking stay of recovery of outstanding demand for the respective assessment years. 2. Shri Ajay Vohra, appearing on behalf of the assessee, submits that the....

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....that the aforesaid assessment order is unsustainable as it suffers from limitation. He pointed that in pursuance to the decision of Hon'ble Supreme Court of India in the case of Union of India vs. Ashish Agarwal reported as 138 taxmann.com 64 (SC), the notices issued under erstwhile provisions of section 148 were later deemed to be notices issued under new Section 148A(b) of the Act. He asserted t....

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....of plant & machinery or testing or commissioning thereof, in connection with turnkey power projects approved by the Central Govt. Whereas, the assessee undertakes civil/factory building and interior fit out works not in connection with turnkey power projects and the contracts entered into by the assessee are not approved by the Central Govt. or the Department of Power under the Ministry of Energy.....

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....the assessee has good case on jurisdictional issue as well as on merits. A specific query was made to the ld. Counsel for the assessee during the course of hearing regarding deposit of 20% of the outstanding demand. After seeking instructions from the assessee, he made statement at Bar that the assessee is willing to furnish indemnity bond cum undertaking to the extent of 20% of the total outstand....