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2013 (12) TMI 486 - HC - Income TaxStay of demand - Held that:- It is open to the petitioner to appear before the Deputy Commissioner of Income Tax and satisfy him that an amount of Rs.1,48,79,983/- has been paid so far - The petitioner will pay to the revenue the balance amount so as to make it 50% of Rs.3,04,25,790/- within 10 days from today - Upon such deposit, the balance outstanding demand of 50% of the Rs.3,04,25,790/- will be stayed - The respondent not to take any coercive steps for recovery of the tax demand for a period of 10 days from today and on the petitioner paying in the aggregate 50% of the outstanding demand of Rs.3,04,25,790/- within 10 days from today, there shall be a stay for recovery of the balance of 50% of the tax - The petition is disposed off.
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