P.A. JINAS Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE challenge made in the present writ petition is, against the order passed in the stay application in the statutory appeal filed by the petitioner. The appeal was filed for the assessment year 2011 -12. The petitioner had also come before this Court to obtain a stay when the application for stay was pending. That was granted, with consequential direction to the appellate authority to consider the stay application. The first appellate authority, on a prima facie consideration, has directed payment of Rs. 25,00,000/ - [Rupees twenty five lakhs only].

(2.) THIS Court finds that the amount directed to be paid is only around 20% of the total demand made. In such circumstance, this Court is not convinced that the discretionary power exercised by the appellate authority is liable to be interfered with. However, to enable the petitioner to satisfy the condition imposed in the order passed in the stay application, the petitioner shall be granted two instalments, one on 29.08.2014 and the other on 29.09.2014. Till such time, the coercive steps initiated shall be kept in abeyance. On default of any of the above instalments, the Revenue will be entitled to proceed with the recovery proceedings.