2015 (9) TMI 1050

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....ard Mr. Abhinav Mehrotra, learned counsel appearing for the petitioner and Mr. Manish Misra, learned counsel for the respondents. The petitioner has prayed for issuing a writ in the nature of Mandamus directing respondent no. 1 not to proceed with the recovery of tax and stay operation of notice dated 26th March, 2015 issued under Section 156 of the Income Tax Act, till disposal of the Income Tax....

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....sel for the petitioner that during pendency of the appeal, the petitioner may not be compelled to deposit the tax. On the other hand, Mr. Manish Misra, learned counsel for the respondents has submitted that sub-section (6) of Section 220 of the Act gives discretionary jurisdiction to the Assessing Officer to exercise his power to stay the recovery. He further drew attention of the Court towards c....

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....gree to make payment of an instalment of Rs. 01 lac per month starting w.e.f. 01.07.2015 till the disposal of 1st appeal or realisation of demand whichever is earlier. Or b. If the assessee deposits Rs. 15 lac immediately and agree to make payment of an instalment of Rs. 02 lac per month starting w.e.f. 01.07.2015 till the disposal of 1st appeal or realisation of demand whichever is earlier. Or....