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2007 (3) TMI 239 - MADRAS HIGH COURTPetitioner filed return declaring loss - AO passed a high pitch assessment raising a huge demand of Rs. 1,40,25,762 - petitioner applied u/s 220(6) for stay of the demand – AO is not giving sufficient reason while rejecting application – since order is not giving any factual finding, same is invalid - in view of CBDT Instruction No. 96 dated 21.8.69 it is held that the petitioner is entitled to stay of the collection till orders are passed in the appeal, subject to making certain payment
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