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TaxTMI 
2019 (1) TMI 294
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.... For The Petitioner : Shri Sharath Rao, CA For The Respondent : Shri R. N. Siddappajji, Addl.CIT ORDER Per Shri Jason P Boaz, AM : This Stay Petition (SP) filed by the assessee is in respect of appeal in ITA No.3244/Bang/2018 for Assessment Year 2014-15 pending disposal before the Tribunal. 2. Briefly stated, the facts relevant for disposal of the stay petition are as under: 2....
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....,470/- (comprising of tax of Rs. 69,54,77,298/- and interest of Rs. 38,25,95,173/-). 3. Before us, the learned AR of the assessee submitted that though the application for stay on recovery of the above demand was filed before the AO on 22.11.2018, so far, the same has not been disposed off and it is in this context that the assessee has approached the Tribunal seeking stay on recovery of the ou....
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....ant stay on recovery of the outstanding demand till disposal of the appeal. 4. The learned DR for Revenue emphatically objected to the assessee's request for grant of stay on recovery of the entire outstanding demand. It was pleaded that the assessee be directed to pay the entire demand outstanding. 5. We have heard the rival contentions and perused and carefully considered the material on r....
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....of Rs. 35 Crores i.e., approx. 50% of the tax demand (excluding interest of approx. 38 Crores), in the following instalments : 1. Payment of Rs. 15 Crores of tax on or before 31.01.2019. 2. Payment of tax of Rs. 10 Crores on or before 28.02.2019, and 3. Payment of tax of Rs. 10 Crores on or before 15.03.2019 (Total Rs. 35 Crores) 6. Failure on t....