Wp/40858/2015 Of Rayalaseema Steel Re-Rolling Mills Pvt. Ltd v. Principal Commissioner Of Income Tax-3

THE HON’BLE SRI JUSTICE RAMESH RANGANATHANANDTHE HON’BLE SRI JUSTICE M. SATYANARAYANA MURTHY WRIT PETITION No.40858 of 2015 ORDER:(per Hon’ble Sri Justice Ramesh Ranganathan) Both Sri S.Ravi, learned Senior Counsel appearing on behalf ofthe petitioner, and Sri T.Vinod Kumar, learned Senior StandingCounsel for the Income Tax Department, would agree that, in case the-petitionerwere to pay Rs.25,00,000/ each month from January,-2016 onwards till March, 2016 ( i.e. a total sum of Rs.75,00,000/) onor before the 10t h of each month, the Commissioner of Income Tax(Appeals) may be directed to dispose of the appeal filed by thepetitioner against the order passed by the second respondent. As the parties are in agreement, we consider it appropriate todispose of the Writ Petition itself directing the petitioner to pay-Rs.25,00,000/ (rupees twenty five lakhs only)each month on orbefore the 10thof the month, for the months of January, February andMarch, 2016. The first respondent shall hear and decide the appealwith utmost expedition, in any event on or before 31stMarch, 2016. Inview of the order now passed by this Court, the order of attachmentshall stand raised. In the event the petitioner defaults in payment ofany of the three monthly instalments, as referred to hereinabove, itshall be open to the respondents to proceed against the petitioner, andrecover the entire tax dues, in accordance with law. The Writ Petition is, accordingly, disposed of.There shall be noorder as to costs.Miscellaneous petitions, if any, pending shall standclosed. ______________________________ 22[nd] December, 2015 Tsy ___________________________________ M. SATYANARAYANA MURTHY, J