TaxTMI 
TaxTMI 
2026 (10) TMI 190
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....the impugned order dated 28th July 2026 passed by Respondent No. 1 under Section 220(6) of the Income Tax Act, 1961 ("the Act"). The Petitioner also seeks a direction to Respondent No. 1 to reconsider and decide the Petitioner's stay application dated 23rd March 2026 in accordance with law, by passing a reasoned and speaking order, after considering the specific grounds and submissions of the Petitioners. The other relief sought is a direction restraining the Respondents from taking any coercive steps for recovery of the alleged outstanding demand of Rs. 15.96 Crores for Assessment Year 2017-18 during the pendency of the appeal filed by the Petitioner before the Commissioner of Income Tax Appeals ("CIT (A)"). 3. The brief facts of the ca....
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.... The reply of the Petitioner was not found acceptable, and therefore, on 17th April 2024, an order was passed under Section 148A(d). Pursuant thereto, on the very same date (i.e. 17th April 2024), a notice under Section 148 was issued to the Petitioner. Thereafter, a Assessment Order dated 16th January 2026 was passed by the Deputy Commissioner of Income Tax (DCIT) under Section 147 read with Section 143(3) of the Act. Along with the Assessment Order, a Demand Notice dated 16th January 2026 was also issued to the Petitioner under Section 156 of the Act. Being aggrieved by the reassessment order, the Petitioner filed an appeal before CIT (A), which is pending till date. 6. During the pendency of this appeal, on 23rd March 2026, the Petiti....
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....e Petitioner also fairly stated that in order not to cause any prejudice to the rights of the Revenue, directions can be given to the CIT (A) to hear the appeal filed by the Petitioner and pending before it, in a time bound manner. 8. On the other hand, learned Advocate appearing on behalf of the Revenue, submitted that by virtue of the CBDT Instruction No. 1914 dated 2nd December 1993, as subsequently partially modified by various Office Memorandums issued by the CBDT, granting of a stay is prescribed after payment of 20% of the total demand only in cases where an appeal of the Assessee is pending before the CIT (A). Considering these instructions, there is no question on the Petitioner being granted any unconditional stay. Therefore, i....
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....ores, it was in a sound financial position. Respondent No. 1 has instead overlooked the fact that, for Assessment Year 2017-18, even though the gross turnover of the Petitioner was approximately Rs. 109.52 Crores, the income of the Petitioner for that year was only approximately Rs. 3 Crores. 10. In view of the foregoing discussion, we quash and set aside the impugned order dated 28th July 2026 and direct that till the disposal of the appeal filed by the Petitioner before the CIT (A), the entire demand raised on the Petitioner, pursuant to the Assessment Order dated 16th January 2026, shall remain stayed. We would also request the CIT (A) to dispose of the Petitioner's appeal as expeditiously as possible, and preferably within a period o....