2014 (1) TMI 19

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....ng the Petitioner's application dated 2 September 2013 for a stay of the tax demand of Rs.1.42 Crores (inclusive of interest) consequent to the assessment order dated 25 March 2013 for the assessment year 2010-11. This stay was sought under Section 220(6) of the Income Tax Act 1961 (the Act). The Petitioner has also made a grievance against order dated 2 September 2013 passed by Tax Recovery Officer (respondent No.2) attaching the Petitioner's bank accounts with Apna Sahakari Bank and Abhyudaya Co-op. Bank Ltd. pending disposal of appeal before the CIT(A). Besides, the Petitioner seeks a direction to the Assessing Officer to dispose of once again the rectification application dated 22 April 2013. 3. The Petitioner submits that the order ....

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....tember 2013 on the Stay Application has recorded a finding of fact that the financial conditions of the Petitioner was sound. In the circumstances, there is no reason to interfere with the order dated 10 September 2013 passed by the Assessing Officer and the attachment done by the Tax Recovery Officer by order dated 2 September 2013 looking at the huge demand which is still outstanding. It was also contended that the rectification application dated 22 April 2013 was already disposed of by order dated 8 August 2013. Thus the orders of the Assessing Officer and the Tax Recovery Officer calls for no interference. 5. We find that though the Petitioner has filed an application for stay before the Tax Recovery Officer on 13 August 2013, no obj....