Pursuant to search carried out in case of assessee trust, assessments were completed. During pendency of appellate proceedings, assessee filed a stay application before AO Assessing Officer disposed of stay application directing assessee to pay 20 per cent of total demand raised. Against said direction writ petition is filed. Court held that view of fact that assessee had already paid Rs. 3.75 crore out of total demand of Rs. 59.67 crore, it would be appropriate to direct assessee to pay a further sum of Rs. 1.25 crore and provide one immovable property as a security till disposal of its appeals by appellate authority. (AY. 2011-12 to 2017-18)
Uthangarai Sri Vidya Mandir Educational & Social Welfare Trust v. P CIT (2019) 344 (Mad.)(HC)
S. 220 : Collection and recovery-Assessee deemed in default – Pendency of appeal before CIT(A)-Stay was granted till the disposal of appeal by paying an additional amount of Rs 1.25 crores. [S. 132, 153A]