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2024 (1) TMI 615 - HC - Income TaxStay of recovery - Validity of tax liability imposed on the petitioner - undisputed between the parties that the petitioner is a Development Authority enjoying the status of the charitable institution within the meaning of that term as defined under Section 2(15) - petitioner claims no recovery and/or adjustment of refund may have been made in excess of 20% of the disputed demand. Yet, much higher amounts have been adjusted - HELD THAT:- While learned counsel for the petitioner initially prayed for stay of recovery for the A.Y.s 2017-18, 2018-19 and 2020-21 which has been opposed with equal vehemence by learned counsel for the revenue, on the suggestion of the Court, both parties agree that the cause of action giving rise to the present petition may stand better addressed, if the appeals filed by the petitioner being are dealt with and decided on their own merits, expeditiously. Accordingly, in the interest of justice, writ petition is disposed of with the direction, let the Appeal be heard and decided by the Appeal Authority within a period of three months from today.
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