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| The Tax Publishers2020 TaxPub(DT) 1129 (Mad-HC) : (2020) 271 TAXMAN 0097 INCOME TAX ACT, 1961
Section 22O
Even though there was no prima facie case in view of incriminating documents against assessee but considering fact that assessee already deposited a sum of Rs. 15,71,293, out of demand of Rs. 61,99,012, in interest of Justice interim stay was granted till disposal of pending appeal subject to deposit of Rs. 15,00,000 in three equal installments.
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Recovery - Stay of demand - Assessee already deposited substantial amount towards outstanding demand during pendency of appeal -
Assessee was aggrieved by dismissal of stay petition against order of CIT(A) confirming the addition made by AO. Held: Tribunal found that there was no prima facie case in view of incriminating documents. However, considering fact that assessee already deposited a sum of Rs. 15,71,293, out of demand of Rs. 61,99,012, interest of Justice would be complied with by directing assessee to deposit a further sum of Rs. 15,00,000 in three equal installments, each installments should be paid within 15 days of every month. On such payment, there shall be an order of interim stay till disposal of appeal before Tribunal.
REFERRED :
FAVOUR : Partly in assessee's favour
A.Y. :
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