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2015 (10) TMI 2056 - HC - Income TaxStay of demand rejected - Held that:- Since facts are more or less similar and the contentions raised before this court were also similar of in the case of Surat Urban Development Authority v. Deputy Commissioner of Income Tax (Exemptions) [2015 (10) TMI 1903 - GUJARAT HIGH COURT] a similar order is required to be passed in the present case. However, considering the fact that an amount equal to two installments has already been recovered from the petitioner which comes to about 25% of the amount demanded, no further amount is required to be directed to be deposited as condition for grant of stay. In the light of the above discussion, the petition partly succeeds and is, accordingly allowed to the following extent. Having regard to the amount already paid by the petitioner, it shall not be treated as an assessee in default as contemplated under section 220(6) of the Act till the final disposal of the appeal before the Commissioner (Appeals). The Commissioner (Appeals) shall dispose of the appeal preferred by the petitioner under section 246 of the Act within a period of four months from the date of receipt of a copy of this judgment. The petitioner shall duly cooperate in the proceedings before the appellate authority. In case the Commissioner (Appeals) is not in a position to dispose of the appeal on account of default on the part of the petitioner, it would be open for the respondents to approach this court for modification of this order.
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