Law:

Section:

JUDGMENT 1. The facts of this case are that the petitioner lost its appeal before the Commissioner of Income-tax (Appeals) on November 20, 2013. The Revenue issued notice under section 221 for determined the demand amounts due for the assessment year 2007-08, which was the subject matter of the appeal before the Commissioner of Income-tax (Appeals). In reply the petitioner concededly filed a letter on February 11, 2014, stating that it had preferred an appeal and stay application to the Income-tax Appellate Tribunal. The appeal along with the application for stay was taken up on February 14, 2014, when the Tribunal granted the stay in the following terms : "3. We have heard both the sides, considered the material on record and find the undisputed fact that 50 per cent. of the remaining demand stands paid/recovered by/from the assessee for both the years which during the pendency of appeal, the assessee was asked to pay 50 per cent. of the demand. Therefore, in view of the facts and circumstances of the case and material on record, we are of the view that it is a fit case where stay should be granted subject to the condition that the assessee should not seek any adjournment and make its every effort to get the appeal concluded as and when fixed and considered for hearing. Therefore, we grant stay of demand for a period of 180 days/till the disposal of the appeals, whichever is earlier, and in case the assessee seeks adjournment, accommodation herein granted shall stand vacated without any notice to the assessee." 2. The petitioner's grievance in the above background of the circumstances is that despite the stay granted by the Tribunal the respondents attached and took away the proceeds of its bank account on February 19, 2014. Counsel for the Revenue contends that there was no intimation about the stay and that the concerned…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492