Wp(C)/18687/2014 Of Galexy Homes (P) Ltd v. The Commissioner Of Income Tax (Appeals) - Ii

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR.JUSTICE K.VINOD CHANDRAN MONDAY, THE 21ST DAY OF JULY 2014/30TH ASHADHA, 1936 WP(C).No. 18687 of 2014 (I) ---------------------------- PETITIONER(S):------------- GALEXY HOMES (P) LTD., GALAXY SQUARE, OPP. ABAD PLAZA, RAJAJI ROAD JUNCTION, M.G.ROAD, KOCHI-682 035, REPRESENTED BY ITS MANAGING DIRECTOR P.A.JINAS. BY ADVS.SRI.SAIBY JOSE KIDANGOOR SRI.VINOD.V (EDAPPUNATHIL). RESPONDENT(S): -------------- 1. THE COMMISSIONER OF INCOME TAX (APPEALS) – II,KERA BHAVAN,SHVHS ROAD,KOCHI-682 011. 2.DEPUTY COMMISSIONER OF INCOME TAX,CIRCLE-1(2), C.R.BUILDING, I.S.PRESS ROAD,KOCHI – 682 018. BY SRI.P.K.R.MENON, SENIOR COUNSEL FOR GOVERNMENT OF INDIA (TAXES) BY SRI.JOSE JOSEPH, SC, FOR INCOME TAX. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 21-07-2014, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: rvs/ PETITIONER(S)' EXHIBITS : ---------------------- EXHIBIT P1:TRUE COPY OF THE ASSESSMENT ORDER UNDER SECTION 143(3) OF THE IT ACT 1961 DATED 28/03/2014.IT ACT 1961 DATED 28/03/2014.EXHIBIT P1(A): TRUE COPY OF THE DEMAND NOTICE UNDER SECTION 156 OF IT ACT, 1961 DATED 28/03/2014. 1961 DATED 28/03/2014. EXHIBIT P(B): TRUE COPY OF THE NOTICE UNDER SECT6ION 274 R/W. SECTION 271(1)(C)OF IT ACT, 1961 DATED 28/03/2014.271(1)(C)OF IT ACT, 1961 DATED 28/03/2014. RESPONDENT(S)' EXHIBITS: NIL. /true copy/ P.A.TO JUDGE rvs/ K.Vinod Chandran, J. -------------------------------------- W.P.(C).No.18687 of 2014-I -------------------------------------- Dated this the 21[st] day of July, 2014 JUDGMENT The challenge made in the present writ petition is,against the order passed in the stay application in the statutoryappeal filed by the petitioner. The appeal was filed for theassessment year 2011-12. The petitioner had also come beforethis Court to obtain a stay when the application for stay wspending. That was granted, with consequential direction to theappellate authority to consider the stay application. The firstappellate authority, on a prima facie consideration, has directedpayment of Rs.50,00,000/- [Rupees fifty lakhs only]. 2. This Court finds that the amount directed to bepaid was only about 12.5% of the total demand made. In suchcircumstance, this Court is not convinced that the discretionarypower exercised by the appellate authority is liable to beinterfered with. However, to enable the petitioner to satisfy thecondition imposed in the order passed in the stay application, the petitioner shall be granted two instalments, one on29.08.2014 and the other on 29.09.2014. Till such time, thecoercive steps initiated shall be kept in abeyance. On defaultof any of the above instalments, the Revenue will be entitled toproceed with the recovery proceedings. The writ petition is disposed of as above. vku. Sd/-K.Vinod Chandran, Judge ( true copy )