2011 (3) TMI 138 - HC - Income Tax

Stay of Demand - Assessee in default - The petitioner shall pay an amount of Rs.1 crore (Rupees one crore), on or before 31.3.2011 and a similar sum of Rs.1 crore (Rupees one crore), on or before 30.4.2011 - On the petitioner fulfilling the said conditions, it shall not be considered as an assessee in default, for the balance payment of income tax and interest accrued thereon, till the disposal of the appeal, pending on the file of the second respondent - The writ petition stands ordered accordingly

Summary

The High Court of Madras set aside the impugned order of the third respondent and allowed the petitioner to pay Rs.1 crore by 31.3.2011 and another Rs.1 crore by 30.4.2011. The petitioner will not be considered in default for income tax payment until the appeal is disposed of. The writ petition was ordered accordingly with no costs.