Maharashtra Industrial Development Corpn v. Dy.director Of Income Tax (Exemption) & Ors

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION (L) NO.1764 of 2014 Maharashtra Industrial Development Corpn.. .. Petitioner vs.Dy.Director of Income Tax (Exemption)& ors .. Respondents --- Mr.Mihir C.Naniwadekar for PetitionerMr.Suresh Kumar for Respondents. CORAM : M.S.SANKLECHA &G.S.KULKARNI, JJ P. C. DATED : 08 JULY, 2014 This petition filed under Article 226 of the Constitution of India challenges the order dated 2.6.2014 passed by the Assessing Officer rejecting the petitioner's application for stay of the assessment order dated 20.2.2014 till the disposal of its appeal before the Commissioner of Income tax (Appeals). 2. The assessment order dated 20.2.2014 has raised a demand of Rs.705.42 crores upon the petitioner for the A.Y.2011-12. 2wp1764.14 3. On rejection of the stay by the Assessing Officer on 2.6.2014 the petitioner has on 11.6.2014 filed an application for stay before the Commissioner of Income Tax i.e.Director of Income Tax (Exemption) petitioner has on 11.6.2014 filed an application for stay before the Commissioner of Income Tax i.e.Director of Income Tax (Exemption) seeking a stay of the demand of the assessment order dated 20.2.2014. This stay is sought till the disposal of the petitioner's appeal before the Commissioner of Income Tax (Appeals). This stay is sought till the disposal of the petitioner's appeal before the Commissioner of Income Tax (Appeals). 4. Mr.Suresh Kumar learned counsel appearing for the revenue states that the Director of Income tax (Exemption) would hear and decide the petitioner's stay application dated 11.6.2014.that the Director of Income tax (Exemption) would hear and decide the petitioner's stay application dated 11.6.2014. 5. We accept the statement of Mr.Suresh Kumar which is reasonable. We direct the Director of Income Tax (Exemption) to decide the petitioner's application for stay dated 11.6.2014 in accordance with law. However, we make it clear that till such time as the Director of Income Tax (Exemption) decides the application dated 11.6.2014, the revenue would not adopt any coercive proceedings against the petitioner and for a period of two weeks from the date of service of the decision on the petitioner. Rng 3wp1764.14 6. Writ Petition is disposed of with the above directions. No order as to costs. (G.S.KULKARNI, J) (M.S.SANKLECHA, J) Rng wp1764.14 Rng