2025 (1) TMI 1008

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....Shri Amitabh Shukla, Accountant Member For the Petitioner : Shri B. Ramakrishnan, Ms. M. Lavanya and Shri. Ramesh Babu, C.As. For the Respondent : Shri. Krishnakumar, IRS, JCIT. ORDER MANU KUMAR GIRI (JUDICIAL MEMBER) The assessee has filed present stay applications seeking stay for outstanding demand of tax for AY 2017-18 u/s 10(3) and u/s 12 of the Black Money (Undisclosed Foreign....

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.... this regard, he has filed a chart explaining the description of demand raised, demand raised in INR, 20%-Amount in INR, Payments/Adjustment in INR etc. as under: AY Description of demand raised Amount in INR 20%-Amount in INR Balance 80% in INR Payments/Adjustments in INR Remarks 2016-17 Penalty u/s. 42 of BM Act 10,00,000 2,00,000 8,00,000 2,00,000 &nbsp....

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.... 20% of demand (Rs.5,73,10,158/-) in three installments on or before the 31.03.2025 and further prayed that the balance disputed demand may be stayed for a period of 6 months or till disposal of the appeal whichever is less. 4. The ld. DR, Mr. Krishnakumar, JCIT, fairly agreed that stay may be granted subject to verification of statutory requirement of payment of taxes by the appellant. Since, ....

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....he assessee. We also conciously note that the appellant has offered balance being Rs. 3,58,01,910/- out of the 20% towards disputed demand for two assessment years will be paid in three installments on or before the 31.03.2025. Therefore, considering the facts and circumstances of the case and also fact that the ld. AR of the appellant has given assurance that the appellant will satisfied the bala....