March 6, 2014 9:45 AM

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B'bay HC refuses to interfere with IT Tribunal stay on Tata Trust

The Bombay High Court has refused to interfere with an order of Income Tax, IT Tribunal which granted a stay on a tax demand made by IT department of 290 crore rupees from Jamshedji Tata Trust for a period of six months from December 2013. Hearing a petition filed by the Revenue Department, a bench headed by Chief Justice Mohit Shah refused to interfere at this stage because the appeal filed by the Trust before the Tribunal is expected to come up for hearing on March 10. The order was passed by the IT Tribunal on December 20 last granting a stay on tax demand for six months or till the disposal of appeal, whichever is earlier. The stay was granted on the ground that the respondent had made out a prima facie case on the major amount of outstanding tax.

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