2012 (4) TMI 217

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....petitioner   M.M.KUMAR, J.   1. The instant petition under Article 226 of the Constitution prays for quashing order dated 20.3.2012 (P7) passed by the Commissioner of Income Tax, Ludhiana and order dated 12.3.2012 (P.5) passed by the Addl. Commissioner of Income Tax, Ludhiana. By the later order, the application filed by the petitioner-assessee for staying the demand of tax has bee....

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.... the petitioner- assessee on 9.3.2012. An effort was made for securing interim order by moving an application. Personal hearing was granted. Holding that mere filing of appeal is not a sufficient reason to stay recovery of demand particularly when the petitioner- assessee is of sound financial position with good liquidity funds. The Additional Commissioner has given various reasons in para 5 of th....