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2017 (12) TMI 1536 - AT - Income TaxStay of demand - Held that:- For granting stay to the present assessee, payment of 55% of disputed demand and in addition to that maintenance of 20% of disputed demand as balance in the bank account of the assessee is just & proper condition. We deem it appropriate to direct the assessee to deposit a further amount of ₹ 175 crores so as to make it 55% (500 crores approx) of the impugned total demand of ₹ 910.61 Crores in respect to all these four assessment years i.e. 2009-10 to 2012-13, on or before 15.12.2017. Direct the assessee to retain balance of another 20% in account No. 0037238007, maintained with CITI Bank, M.G.Road Branch, Bengaluru-560 001 which comes to ₹ 182 crores, during the pendency of these appeals before the Tribunal in addition to depositing further amount of ₹ 175 crores . In terms of conditions mentioned herein above, stay orders earlier granted are extended for a period of three months from the date of this order or till the date of disposal of the appeals, whichever is earlier subject to compliance of the above directions.
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