2023 (10) TMI 708

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....r>Income Tax<br>Honourable Mr. Justice Krishnan Ramasamy For the Petitioner : Mr.T.Ramesh For the Respondents : Mr.R.S.Balaji Senior Standing Counsel ORDER With consent, the main Writ Petition itself is taken up for final disposal at the stage of admission itself. 2. In this Writ Petition, the petitioner has challenged the order passed by the Principal Commercial of Income Tax-I, Ap....

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....r passed by the second respondent/the Income Tax Officer, the petitioner filed an Appeal before the first respondent/Appellate Authority and along with the Appeal, the petitioner also filed a Petition for Stay and the first respondent/Appellate Authority, by the impugned order, dated 31.08.2023, directed the petitioner to pre-deposit 20% of the tax demanded, which works to Rs. 47,89,456/- and gran....

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....reduction of the deposit amount, 6. Mr.R.S.Balaji, learned Senior Standing Counsel, who accepts notice on behalf of the respondents would submit that since the petitioner failed to file returns, the second respondent passed the assessment order, dated 21.03.2023 and though the petitioner filed Appeal against the said order, since a sum of Rs. 1,36,79,856/- is in cash rotation on the petitioner&....

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....andloom Sarees, this Court is of the view that the impugned order passed by the first respondent/Appellate Authority requiring the petitioner to pay 20% of the tax demand is on the higher side. Therefore, this Court directs the petitioner to deposit Rs. 10,00,000/- instead of 20% (which come around Rs. 47,89,456/-) of the impugned demand ordered by the Appellate Authority within a period of eight ....