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2024 (4) TMI 406 - KERALA HIGH COURTExemption from paying advance tax - Seeking permission to prosecute appeal against order of assessment without having to pay the advance tax u/s 249(4) - DR submitted that even in the year 2017-18, the petitioner has made substantial investments in immovable property while not filing a return of income or paying even the admitted tax in respect of the assessment year 2016-17, since the demand in order of assessment is in excess of Rs. 68 crores, a substantial amount will have to be remitted by the petitioner for maintaining the appeal. HELD THAT:- Since it is not seriously disputed that the case of the petitioner falls under the proviso Section 249(4)(b) of the 1961 Act, Ext. P17 appeal filed by the petitioner against Ext. P15 order of assessment for the assessment year 2016-17 can be directed to be disposed of on merits after affording an opportunity of hearing to the petitioner on the condition that the petitioner remits a total sum of Rs 12 crores against the demands in Ext. P15 order of assessment. An amount of Rs. 11.75 crores shall be remitted by the petitioner in 8 equal monthly installments commencing from 15.04.2024. Subsequent installments shall be paid on or before the 15th day of the succeeding months. The petitioner shall remit a sum of Rs. 25 lakhs towards the demand in Ext. P15 on or before 31.03.2024. If the petitioner fails to remit the amounts as directed above, it will be open to the Department to proceed for recovery of amounts assessed in terms of Ext.P15. Since the above condition is to be satisfied for maintaining the appeal, it is directed that the appeal filed by the petitioner shall be taken up and adjudicated only after the entire amounts (Rs 12 crores) payable by the petitioner in terms of this judgment are paid, as directed.
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