TMI Blog2013 (4) TMI 118X X X X Extracts X X X X X X X X Extracts X X X X ..... third respondent, for the assessment years 2005-06, 2006-07 and 2008-09, on merits and in accordance with law, after giving an opportunity of hearing to the petitioner, within a period of two weeks from the date of receipt of a copy of this order - The respondents shall not proceed against the petitioner to recover the income tax arrears said to be payable by the petitioner, as per the notice of d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oner, pending on the file of the third respondent, for the assessment years 2005-06, 2006-07 and 2008-09. 3. The learned senior counsel appearing for the petitioner had further submitted that the impugned order had been passed by the first respondent directing the petitioner to pay eleven crores, in installments of two crores per month. 4. It had also been stated that the stay petition would ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ernment Advocate appearing for the respondents had submitted that the total arrears of income tax liable to be paid by the petitioner is about sixty seven crores, for the assessment years 2005-06, 2006-07 and 2008-09. Therefore, the petitioner had been asked to pay eleven crores, in installments, as per the order, dated 17.2.2012. Such an order is reasonable, in view of the huge arrears of income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n a position to show that the representatives of the petitioner had agreed to furnish a scheme for payment. In such circumstances, the impugned order of the first respondent, dated 17.2.2012, is set aside. The first respondent is directed to hear the stay petition filed in the appeals preferred by the petitioner, before the third respondent, for the assessment years 2005-06, 2006-07 and 2008-09, o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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