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2011 (1) TMI 1368 - AT - Income TaxSeeking stay of recovery of outstanding demands - reduction of outstanding demands - amounts of advance taxes, etc. already paid by the assessee to be adjusted against the gross outstanding demands - part outstanding amount relates to the issue of transfer price, for which it is prepared to furnish a bank guarantee. HELD THAT:- The stay of recovery of the outstanding demand granted, subject to the condition that the assessee pays an amount of ₹ 50 lakhs out of the outstanding demand by 31st January, 2011. It has been brought to notice that the appeals of the assessee have already been posted for hearing on 7.2.2011, and as such no direction is required in that behalf. The parties are directed to file the paperbooks, if any desired to be filed, by 31.1.2011.
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