2026 (3) TMI 1739

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....EMBER For the Assessee  : Shri Nageshwar Rao For the Revenue  : Shri N Balusamy, JCIT ORDER PER KESHAV DUBEY, JUDICIAL MEMBER 1. This Stay Application is filed by the Assessee Company u/s. 253(7) r.w.s. 254(2A) of the Income Tax Act, 1961 (in short The Act) seeking stay of the disputed demand amounting to Rs. 2,70,03,61,843/- for the Assessment Year 2023-24. 2. Before u....

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....d by the Hon'ble Tribunal year after year consistently in favour of the Assessee's group entity resulting in refund of the excess tax deducted at source in such years and accordingly, the prima-facie the case is also in favour of the Assessee and prayed that full stay of realization of disputed tax may be granted. 4. The Ld. Departmental Representative submitted that since the issue pending wit....

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....challenging the validity of notice issued u/s. 143(2) of the Act. We find that the issue of validity of such notice is pending before the Special Bench of the Tribunal in case of M/s. MD and sons which is to be heard in a short span of time. We also take a note of the fact that several Coordinate Benches have taken a view in favor of the Assessee. Therefore, we are of the considered opinion that p....