2018 (12) TMI 1612

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..... van, Adv. Respondent by : Mr. AR.V.Sreenivasan, JCIT ORDER PER INTURI RAMA RAO, ACCOUNTANT MEMBER: The present Stay Petitions are filed by the assessee seeking stay of outstanding demand of Rs. 9,33,16,430/-. It is submitted before us that the demand in question has arisen on account of wrong methodology adopted by the Assessing Officer (in short "AO") for the purpose of computing taxable inco .....

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..... on account of attachment of bank accounts, we grant the stay of demand subject to payment of installment of Rs. 50.00 lakhs payable on or before 30th / 31st of every calendar month, the first installment shall be paid on or before 31.12.2018 and the assessee shall issue a cheque in favour of the Department for Rs. 50.00 lakhs, after receipt of the cheque, the AO shall lift the bank attachments. T .....

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