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2013 (11) TMI 1586 - HC - Income TaxStay on recovery - Held that:- We dispose of the present Special Civil Application by directing the petitioner to pay ₹ 1.12 Crores on or before 31/01/2014 by equal instalments (as agreed by the learned Senior Advocate appearing on behalf of the petitioner recorded hereinabove and even as per the order dated 19/08/2013 passed by the Assessing Officer under Section 220(6) of the Income Tax Act). On deposit of the aforesaid amount of ₹ 1.12 Crores, the order of demand with respect to the remaining amount shall be stayed till 31/01/2014. However, liberty is reserved in favour of the petitioner to approach the appropriate authority for extension of stay, which has been granted up to 31/01/2014 with respect to the balance amount and/or to challenge the order dated 19/08/2013 in so far as granting stay of recovery of the balance amount till the decision of the First Appeal or January, 2014, whichever is earlier and as and when such proceedings are initiated the same be considered in accordance with law and on its own merits.
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