Cals Refineries: Order By Hon'Ble Income Tax Appelate Tribunal (ITAT), Delhi Benches, New Delhi

In furtherance of our earlier intimations about the Assessment Order u/s 148 of the Income Tax Act, 1961 (Act) for the AY 2008-09 passed by Income Tax Department, New Delhi on 29th December, 2016 raising a demand of Rs. 5,86,02,81,490. The Company had filed before the Honble Income Tax Appellate Tribunal (ITAT) against the order of CIT(A)-12, who had rejected our plea and contention in the in appeal No. 47/17-18, vide its order dated 25.09.2017.

In context of the aforesaid, the Company had filed a Stay application before the Honble ITAT for seeking stay of aforesaid demand of Rs. 5,86,02,81,490/- inclusive of interest.

In this context the ITAT has passed the order dated 16.03.2018, (received to the Company on 28.03.2018), declaring the stay application as infructuous and has dismissed the aforesaid Stay Application in limine.

The Copy of the aforesaid order is also enclosed herewith for your reference.