2019 (5) TMI 1658

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....Respondent : Shri. AR.V. Sreenivasan, JCIT. ORDER PER INTURI RAMA RAO, ACCOUNTANT MEMBER: The present stay petition is filed by the assessee seeking stay of demand of Rs. 37,40,152/- for the Assessment Year 2012-13. 2. It is submitted that the demand in question had arisen in the assessment order made u/s.143(3) r.w.s. 147 of the Income Tax Act, 1961 (in short ''the Act'') treating the sale c....

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....rits of the addition in favour of the assessee and therefore it is not a fit case for grant of absolute stay. However, we are of the considered opinion that the interest of the justice would be met if the petitioner is ordered to pay monthly installment of Rs. 10,00,000/- for each month and we order accordingly. The first installment should be paid on or before 31.05.2019 and the subsequent instal....