COUNTRYWIDE BUILDESTATE (P) LTD Vs. UNION OF INDIA

JUDGEMENT

(1.) BY way of the instant writ petition, the petitioner has sought the following relief :

(2.) HAVING considered the submissions made at the Bar and carefully perused the relevant material on record, it is noticed that the Dy. CIT, Central Circle-2, Jaipur assessed Rs. 2,00,19,492 to be the income of the petitioner for the year 2007-08 and raised a demand of Rs. 84,90,571 payable by the petitioner. Aggrieved with this assessment order, the petitioner filed an appeal before the CIT(A) which has been pending for its decision.

(3.) LEARNED counsel for the petitioner canvassed that the demand raised by the AO is highly excessive, exorbitant and contrary to the material available before the AO which needs to be stayed. In alternative, the learned counsel for the petitioner also submitted that in case the demand raised by the concerned authority is not stayed, CIT(A) may be directed to dispose of the appeal as early as possible.