NSE clearing Ltd. v. DCIT 204 ITD 174/229 TTJ 31 (Mum) (Trib)

S. 254(2A) : Appellate Tribunal-Stay-Demand is stayed on condition that the assessee would not seek an adjournment-Multiple adjournments by assessee-Stay granted against recovery of outstanding demand was vacated and assessee was to be directed to pay outstanding taxes in three equal instalments. [S. 220, 254(1)]

Demands against assessee were stayed by the Tribunal  on condition that assessee would not seek an  adjournment without there being bona fide reason and in case assessee sought an adjournment without there being reasonable cause, stay so granted shall be withdrawn. However, on date of hearings, assessee sought repeated adjournments without reasonable cause. Tribunal  vacated the stay  and the was directed to pay outstanding taxes in three equal instalments. (AY. 2015-16, 2017-18)

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