RISING BUIIDESTATE (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 Deputy Commissioner of Income-tax, Central Circle-2, Jaipur assessed Rs. 2,61,66,611 to be the income of the petitioner for the year 2007-08 and raised a demand of Rs. 1,38,33,389 payable by the petitioner. Aggrieved with this assessment order, the petitioner filed an appeal before the Commissioner (Appeals) which has been pending for its decision.

(3.) The petitioner also filed a stay application before the Assessing Officer and the Assessing Officer who happens to be the Deputy Commissioner of Income-tax (Central Circle-2), Jaipur in the instant case passed an order in the following terms: