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2019 (3) TMI 392 - AT - Income TaxStay of demand - recovery proceedings - HELD THAT:- We find that the assessee has an arguable case and as seen from the submissions of the DR itself, the assessee does not have funds to meet the outstanding demand of tax. However, we deem it fit and proper to grant stay of the recovery of the outstanding demand of tax for all the A.Ys under consideration subject to the condition that the assessee pays ₹ 3.00 crores on or before 15.03.2019. The assessee shall submit the copy of the challan and also file the paper books within time so that the matter can be heard on 27.03.2019 which is the date fixed for hearing. The stay shall be in force for a period of 180 days or till the disposal of the appeal, whichever is earlier.
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