2019 (4) TMI 1452 - HC - Income Tax

Stay of demand - Petitioner was directed to remit 20% of the demand on or before 15.03.2019 - HELD THAT - The petitioner shall pay 50% of the amount directed in the conditional order in two instalments. First of such intalment shall be paid on or before 31.03.2019 and balance 50% within a further period of one month. Impugned order accordingly modified as above. The appeal shall be disposed of as expeditiously as possible.

Summary

Issues: Impugning a conditional order of stay passed by the Commissioner of Income Tax

Analysis:
The petitioner challenged a conditional order of stay issued by the Commissioner of Income Tax, (Appeals), demanding a total of ?44,82,72,598. The order required the petitioner to remit 20% of the demand by a specified date as a condition for the stay. The petitioner argued that the amount was excessively high, amounting to over ?9 Crore, which they could not afford to pay.

Considering the circumstances, the court modified the order, directing the petitioner to pay 50% of the demanded amount in two instalments. The first instalment was to be paid by a certain date, and the remaining 50% within a month thereafter. The court emphasized expeditious disposal of the appeal in light of the modified order. Ultimately, the writ petition was disposed of in accordance with the court's decision.