Having heard the counsel for the parties, it is apparent that on the one hand, the appellant is aggrieved by the additions sought to be made on account of the recommendations of the TPO which were finalised by the Assessing Officer after hearing the Assessee. The subsequent demand was a natural corollary to the assessment finalised for the concerned years (AY 2013-2014); on the other hand, the petitioner claims to be entitled to refund of certain amounts, which are pending and payable on its account for previous and other assessment years. The petitioners’ appeals are pending before the Income Tax Appellate Tribunal [ITAT]. In these circumstances, the most appropriate course left to this court would be to direct that the existing status quo be maintained, (which means that, on the one hand, demands arising out of the assessment years for the concerned AY are not enforced for a limited time and at the same time, the Assessing Officer does not, as a consequence, adjust the refund, available to the credit of the Assessee/Petitioner). Accordingly, the respondents are hereby directed not to enforce the demands, under the relevant provisions of the Income Tax Act, and also not to adjust refund amounts due and payable to the petitioners, if any, during the
