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2016 (10) TMI 526 - ITAT CHENNAI

2016 (10) TMI 526 - ITAT CHENNAI - TMI - Stay orders - recovery orders - Held that:- In this case, the assessee has paid substantial amount of ₹ 50 lakhs out of ₹ 1,38,79,161/-, which consisted of ₹ 98,35,011/- and ₹ 40,44,150/- towards tax and interest levied u/s.234A, 234B & 234C of the Act respectively. In view of this, we are inclined to grant conditional stay that the assessee shall pay ₹ 10 lakhs on or before 10.5.2016. Accordingly, recovery of balance amount .....

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Chandra Poojari, Accountant Member And Shri Duvvuru RL Reddy, Judicial Member Applicant by : Shri N. Vijaykumar, CA Respondent by : Ms. H. Kabila, JCIT ORDER Per Chandra Poojari, Accountant Member By this stay petition, the assessee seeks stay of outstanding disputed demand of ₹ 88,79,161/-. 2. The ld. AR submitted that there was total outstanding demand of ₹ 1,38,79,161/-, out of which the assessee has already paid ₹ 50 lakhs and the balance is ₹ 88,79,161/-. Further, h .....

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