Slum Rehabilitation Authority v. UOI (2021) 436 ITR 172 / 200 DTR 9 / 278 Taxman 315 / 323 CTR 637(Bom.)(HC)

S. 254(2A) : Appellate Tribunal-Stay-Stay-Justified in imposing condition upon assessee to pay Rs. 20 crores for granting stay against outstanding demand of Rs. 269.96 crores. [S. 220, Art. 226)

Tribunal granted stay subject to deposit only an amount of Rs. 20 crores in two instalments. Assessee filed an instant writ petition against such condition for stay of demand. High Court held that the assessee had paid till date Rs. 116.09 crores out of total tax demand of Rs. 386.05 crores, thus, balance amount payable stood at Rs. 269.96 crores. Tribunal was justified in imposing condition upon assessee to pay Rs. 20 crores for granting stay against outstanding demand of Rs. 269.96 crores. (AY 2011-12 to 2014-15)