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2012 (3) TMI 287 - BOMBAY HIGH COURTThe assessee returned an income of approximately Rs.19 crores - original order of assessment demand of Rs.2 crores but reduced upon rectification to Rs.1.30 crores initially and thereafter, to Rs.1.18 crores. – assessee filed an appeal that additions have been made by the Assessing Officer on three counts: (i) Interest paid to HDFC Bank; (ii) The annual letting value of house property; and (iii) Sales promotion expense - Of the total demand of Rs.1.18 crores, an amount of Rs.78 lakhs has been adjusted against the refund due and payable AY 2010-11- Since the refund has already been adjusted, and the balance of the demand was Rs.40.54 lakhs stay on the recovery of balance until the disposal of the appeal before the CIT (Appeals) - we direct that the CIT (Appeals) shall expedite the disposal of the appeal and endeavour to do so within a period of three months from order date -make the rule absolute by modifying the order passed by the Commissioner of Income Tax by staying the recovery of the balance amount of Rs.40.54 lakhs pending disposal of the appeal.
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