2026 (7) TMI 1310

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....essee : Shri Narendra Sharma, Advocate For the Revenue : Shri N Balusamy, JCIT (DR) ORDER PER WASEEM AHMED, ACCOUNTANT MEMBER: The assessee has filed the present stay petitions under the proviso to section 254(2A) of the Income Tax Act, 1961, seeking stay of outstanding demand for the Assessment Years 2013-14, 2014-15 and 2017-18. 2. The ld. AR before us filed the order passed under....

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....see. 3. On the other hand, the learned Departmental Representative opposed the stay petition but did not dispute the fact that the assessee has already deposited significantly more than 20% of the outstanding demand. 4. We have heard the rival contentions of both the parties and perused the materials available on record. The parameters to be taken into account in considering the grant of sta....

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....39/- 9,58,24,844 2017-18 9,40,81,173 2,10,23,433/- 7,30,57,740 4.1 Considering the above, we are of the view that the balance of convenience lies in favour of the assessee. Therefore, we exercise our discretion in favour of the assessee for the stay on the recovery of the outstanding demand. Accordingly, we direct that the balance outstanding demand be kept in abeyance till the d....