2013 (12) TMI 1205

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....e Assessment Year 2010-11 claiming exemption under Section 11 of the Income Tax Act, 1961 (for short "The Act"). The assessment was completed vide order dated 28.03.2013 determining the tax payable as Rs.13,93,37,520/- and charging interest of Rs.3,68,83,460/- under Section 234B of the Act. The amounts payable by the petitioner towards the demand for the Assessment Years 2008-09 and 2009-10 wer....

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....013 directed the petitioner to pay the entire demand not only for the years 2008-09 and 2009-10 but also for the Assessment Year 2010-11 to be cleared on or before 20.09.2013. Aggrieved by the same the present writ petition is filed. It is contended by Sri S. Ravi, the learned Senior Counsel appearing for the petitioner that the impugned letter insisting upon the petitioner to pay the total tax....

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....it is stated that the petitioner has cleared Rs.6,96,68,760/, and the balance pending is Rs.6,96,68,760/. So far as the petitioner's contention that for the Assessment Years 2012-13 and 2013-14 Rs.1.23 Crores and Rs.1.40 Crores respectively was deducted by way of TDS and if the same is adjusted towards the demand for the Assessment Year 2010-11 the balance payable would be only Rs.4.33 Crores is c....