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2016 (4) TMI 515 - AT - Income TaxStay Application on the recovery of outstanding demand - Held that:- Applicant shall deposit a sum of ₹ 50.00 crores on or before 31/03/2016 and recovery of balance of the demand shall be stayed. For the balance of the outstanding demand, the applicant shall provide a corporate guarantee to the satisfaction of the Assessing Officer within four weeks. The Registry shall list the appeal of the assessee on an out of turn basis before the Regular Bench on 08/08/2016. Since the aforesaid date of hearing was announced in the open court, the requirement of issuance of a formal notice of hearing is hereby dispensed with; and, The aforesaid stay shall operate for a period of six months from today or the date of disposal of appeal by the Tribunal, whichever is earlier.
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