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2013 (2) TMI 880

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..... CIT-II(DR) ORDER N.V. Vasudevan, The assessee has filed the above application praying for an order of stay of recovery of outstanding demand of ₹ 1,28,14,177. 2. The original outstanding demand on account of tax and interest was ₹ 1,68,14,177. The assessee had made a payment of ₹ 20 lakhs on 22.11.2012 and another ₹ 20 lakhs on 21.01.2013. The outstanding demand arises out .....

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..... nd in this regard, a copy of the bank statement as on 30.01.2013 was filed which shows that the assessee has cash balance of only ₹ 15,27,783. Taking into consideration the existence of a prima facie case, balance of convenience and hardship, it was prayed that the recovery of outstanding demand should be stayed. 4. The ld. DR, on the other hand, submitted that the additions made by the AO a .....

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..... a period of six months from the date of this order, or till the appeal is disposed of, whichever is earlier. The assessee is, however, directed to pay a sum of ₹ 10,00,000/- (Rupees Ten Lakhs only) towards the outstanding demand on or before 31.03.2013. The appeal is fixed for hearing out of turn on 17th April, 2013 and the date of hearing of the appeal was announced in the open court. Hence .....

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