INDUS CITYSCAPES CONSTRUCTIONS PVT LTD REP BY ITS MANAGING DIRECTOR MEGHARAJ Vs. DEPUTY COMMISSIONER OF INCOME TAX AND COMMISSIONER OF INCOME - TAX

JUDGEMENT

(1.) The main contention of the learned Counsel appearing for the Petitioner is that the Petitioner is not liable to pay the tax, as assessed by the first Respondent, under Section 143(3) and the interest thereon, under Sections 234B and 234C of the Income Tax Act, 1961, as the Petitioner is a developer constructing residential houses and not a contractor, as claimed by the assessing authority.

(2.) The learned Counsel appearing for the Petitioner had also submitted that the Petitioner has filed an appeal before the second Respondent, on 19.1.2011, challenging the assessment order passed by the first Respondent. The Petitioner had also filed a stay petition, to stay the recovery of the disputed demand and to direct the assessing officer not to treat the Petitioner as an Assessee in default, in respect of the demand of tax and interest, said to be payable by the Petitioner, pending disposal of the appeal.

(3.) The learned Counsel appearing for the Respondents had submitted, inter alia, that the second Respondent maybe directed to dispose of the stay petition, filed by the Petitioner within a specified period, on the Petitioner paying 50% of the total demand made by the assessing authority.