SC directs pre-deposit before assessment, no recovery pending appeal. Corporate law

The SC ordered the Central Government's corporate wing to pre-deposit Rs. 50 crores. Assessment proceedings can proceed, but no recovery until further orders. Interlocutory applications are disposed of, and civil appeals set for final hearing on August 31, 2010.

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The Supreme Court of India ordered that an amount of Rs. 50 crores be pre-deposited by the corporate wing of the Central Government. The Assessing Officer can proceed with assessment proceedings, but no recovery should be made until further orders. Interlocutory applications are disposed of, and civil appeals are scheduled for final hearing on August 31, 2010.

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