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2018 (7) TMI 1629 - HC - Income TaxStay of demand - recovery proceedings - Held that:- Fix a lumpsum amount to be paid by the petitioner in installments and thereafter permit the petitioner to prosecute the appeal pending before the CITA. This court is of the view that if the petitioner is permitted to file another fresh stay application before the CITA, it will unnecessarily result in another round of litigation, which will have impact in disposal of the appeal. Therefore this court deems it fit to fix an amount of ₹ 35,00,00,000/- (Rupees Thirty Five Crores only) to be paid by the petitioner company in 12 equal monthly installments as a condition to stay the recovery proceedings and keep it in abeyance till the disposal of the appeal pending before the CIT-A.
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