2026 (3) TMI 895

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....Shah, Senior Advocate a/w Mr. Madhur Agarwal, Ms. Vidushi Maheshwari and Mr. Sameer G. Dalal, Advocates. For the Respondents: Mr. Vikas T. Khanchandani, Advocate. P. C. 1. The above Writ Petition is filed challenging the Order dated 30th January 2026 passed by Respondent No.2. By the impugned Order, the Stay Application filed by the Petitioner, seeking an unconditional stay of the demand ....

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....er Section 153(5) the OGE has to be passed within 3 months from the end of the month in which the order inter alia under Section 250 is received by the Authority mentioned in the said Section. Accordingly, the OGE, in the present case, ought to have been passed latest by 30th November 2025. In the present case, the OGE has been passed only on 17th December 2025 and was therefore time barred. Conse....

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....hat a refund of Rs. 3,63,50,550/- is due to the Petitioner for A.Y. 2016-17 and a refund of Rs. 2,24,92,890/- is due for A.Y. 2025-26. After giving credit for these amounts, the balance sum that would have to be deposited by the Petitioner would be Rs. 4,11,56,560/-. 5. Mr. Khambata, the learned Senior Counsel appearing on behalf of the Petitioner, on instructions, stated that the said amount w....

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....y, the Petitioner shall now deposit a sum of Rs. 4,11,56,560/- with the Income Tax Department by 31st March 2026. (iii) If the aforesaid deposit of Rs. 4,11,56,560/- is made on or before 31st March 2026, the balance demand against the Petitioner shall remain stayed either till the disposal of the Appeal filed by the Petitioner before the CIT (Appeals) against the OGE dated 17th December 2....