K. Vinod Chandran, J.@mdashThe petitioner is aggrieved by Exhibit P9 order passed by the Income Tax Appellate Tribunal, Cochin Bench. The petitioner''s contention is that the petitioner had filed appeals against the assessment orders passed for the years 2007-08, 2008-09 and 2010-11. Interlocutory applications were filed for stay of the demand, which were dismissed by the Tribunal as per Exhibit P9. What the petitioner now contends is that, the appeals itself have been heard on 26.06.2014 and pending decision, the recovery proceedings may be stayed.
2. It is evident that, after Exhibit P9 order was passed, the petitioner had deposited an amount of Rs.48,00,000/- by way of instalments, whereas the total arrears due, even after adjustment, is Rs.1,43,71,000/-. In such circumstance, considering the fact that the appeals have been heard and reserved for judgment, the petitioner shall be granted stay till the disposal of the appeals on the petitioner remitting Rs.10,00,000/- (Rupees ten lakhs only) within one month from today.
The writ petition is disposed of as above.
