R. PRABHAKAR REDDY Vs. THE TAX RECOVERY OFFICER

JUDGEMENT

(1.) Mr. Ashok Haranahalli, Sr. Counsel for Mr. Sanjay Gowda N.S., Advocate for petitioner;

(2.) In view of the statements made by Mr. Ashok Haranahalli, Senior counsel appearing for Mr. Sanjay Gowda N.S., the learned counsel appearing for the petitioner- assessee, though this Court is of the opinion that the demand in question not being under challenge and the petitioner - assessee ought to have paid the said demand in due course of time itself, however, looking to the fact that the residential house of the petitioner is intended to be sold by the Income Tax Department for recovery of the said dues and the market value of the said residential house is stated to be much more than the demand in question, it is directed by disposing of the present writ petition itself that if the petitioner - assessee deposits 50% of the disputed demand, i.e. Rs.1,46,58,192/-, i.e. Rs.75.00 lakhs within a period of two weeks from today and the remaining entire amount within six weeks from today, then the auction of the residential house of the petitioner, situated at No.1749, 25th cross, off 19th Main Road, 20th Main, Sector II, Hosur Sarjapur Road Layout (HSR Layout), Bangalore-560102 may not be undertaken and finalized.

(3.) It is made clear that:-