SINHGAD TECHNICAL EDUCATION SOCIETY Vs. P.L. PATHADE

JUDGEMENT

(1.) Heard. Rule. Rule made returnable forthwith and by consent of parties, the petition is taken up for final hearing.

(2.) This petition is filed to challenge the order dated 12-1-2009 passed by the CIT (A), whereby while fixing the appeals for hearing on 4-2-2009, the CIT (A) has disposed of the stay applications by directing the petitioner to pay 10% of the demands raised for A.Y. 2005-06 and A.Y. 2006-07 by 30-1-2009 and further directed the petitioner to pay a sum of Rs.50 lakhs by 27th of every month till the appeals are heard and disposed of.

(3.) The petitioner - trust which was established in the year 1993 to impart education in different branches had obtained registration under Section 12A of the Income Tax Act, 1961 ('Act' for short) on 17-1-1994 as a result whereof the income of the assessee was exempted from payment of income tax.