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| The Tax Publishers2020 TaxPub(DT) 4425 (Mad-HC) INCOME TAX ACT, 1961
Section 220(6)
Where assessee pointed out nine reasons as to why he was seeking for stay of demand and even before the assessee approached the Tribunal, he paid 25% of the disputed tax and as per the order of the High Court, a further sum of Rs. 8,00,000 had already been remitted; therefore, the interest of the Revenue was sufficiently safeguarded and nothing more was required to be done and accordingly, the stay was granted till the appeal was heard and disposed of by the Tribunal.
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Recovery - Stay of demand - Assessee paid 25% of disputed tax -
Tribunal dismissed stay petition filed by assessee on the ground that no prima facie case was made out in favour of the assessee and no financial hardship was demonstrated before the Tribunal. Accordingly, the assessee filed a writ petition challenging such order passed by the Tribunal. Held: On perusal of stay petition, it was found that the assessee pointed out nine reasons as to why he was seeking for stay and that there was a likelihood that all the major issues raised in the appeal would be decided in favour of the assessee. Further, even before the assessee approached the Tribunal, he paid 25% of the disputed tax and as per the order of the High Court, a further sum of Rs. 8,00,000 had already been remitted. Therefore, the interest of the Revenue was sufficiently safeguarded and nothing more was required to be done and accordingly, the stay was granted till the appeal was heard and disposed of by the Tribunal.
REFERRED :
FAVOUR : Stay granted/Directions issued.
A.Y. :
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