GUL GOPALDAS DARYANI Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) Leave to amend.

(2.) These petitions are taken up for final disposal. The petitions involve identical questions of law and facts. We may record facts as mentioned in Special Civil Application No.2257/2014.

(3.) The petitioner is a director of one M/s. Flamingo Hotels Private Limited which, as its name suggests, is a private limited company and would be hereinafter referred to as "the said company". For the assessment year 20102011, the said company filed its return declaring total income of Rs.4.88 lakhs(rounded off). Such return was taken in scrutiny. The Assessing Officer framed assessment on 28.3.2013 and computed the long term capital gain after set off of business loss at Rs.4.14 crores(rounded off). The company filed appeal against the order of the assessment. Such appeal is pending before the CIT(Appeals). The said company also prayed for stay against the recovery of tax demand flowing from the order of assessment. CIT(Appeals) refused to grant stay. No further proceedings were carried by the company against such order of CIT(Appeals). As of now thus there is no stay against recovery of the tax.