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2015 (5) TMI 933 - HC - Income TaxStay of demand - Non deduction of tds - treating assesse as assessee in default - stay of the tax and interest demanded rejected - Held that:- It would suffice and meet ends of justice if the petitioner is put on terms and directed to pursue its grievance before appellate authority namely, CIT (Appeals)-12 for stay for being adjudicated on merits along with the appeal itself expeditiously, at any rate within an outer limit of two months from the date of receipt of copy of this order and subject to following conditions: (a) Petitioner-assessee shall deposit further a sum of ₹ 20 Crores on or before 31.03.2015 before first respondent -Assessing Officer. (b) Petitioner- assessee shall deposit further sum of ₹ 40 Crores before first respondent- Assessing Officer on or before 30.04.2015. (c) For the balance amounts as demanded under demand notice dated 18.02.2015 petitioner shall furnish Bank Guarantee/s in favour of first respondent- Assessing Officer on or before 30.04.2015 kept alive till disposal of the appeal by the CIT (Appeals)-12
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