PR COMMISSIONER OF INCOME TAX-I AAYAKAR BHAWAN LUCKKNOW Vs. U P SHRAM EVAM NIRMAN SAHKARI SANGH LTD LUCKNOW

JUDGEMENT

(1.) Heard Sri Ghanshyam Chaudhary, learned counsel for the appellant.

(2.) The appellant (Revenue) has preferred this appeal under Section 260 A of the Income Tax Act, 1961 against the order dated 18.11.2015 passed by the Income Tax Appellate Tribunal, Lucknow Bench, Lucknow.

(3.) The facts of the case reveal that the assessing authority has created a huge demand of Rs. 40,27,78,561/- against the respondent assessee for the assessment year 2011-12. Against the aforesaid demand respondent assessee preferred an appeal before the Commissioner of Income Tax (Appeals-1) Lucknow. Subsequently, the respondent assessee moved an application for stay of the demand for fear of attachment of its properties. On attachment, respondent assessee invoked the writ jurisdiction of the High Court. The said petition was disposed of vide order dated 18.5.2015 with the direction to the Commissioner of Income Tax (Appeals-1) to decide the stay application of respondent assessee expeditiously preferably within a period of one month from the date of production of the certified copy of the order.