2019 (3) TMI 392

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..... S. Rama Rao For the Revenue : Shri Y.V.S.T. Sai,CIT(DR) ORDER PER SMT. P. MADHAVI DEVI, J.M. These stay applications are filed by the assessee seeking stay of the recovery of the outstanding demand of tax for the A.Ys 2007-08 to 2011-12. The total outstanding tax for these years is Rs. 27,77,94,727/-. 2. The learned Counsel for the assessee submitted that the demand has arisen due to disallo .....

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..... roceedings, the Managing Director of the assessee company had given two post- dated cheques for Rs. 1.00 crore each but the same were not honoured inspite of giving sufficient time. The learned DR has also brought out the list of corporate debtors of the assessee who were sent notices u/s 226(3) for attaching of the receivables of the assessee, but the notices were returned to the Department in vi .....

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