Sec. 254 of the Income-tax Act, 1961 – Appellate Tribunal – The only question in the appeal is as to whether the Tribunal is right in dismissing the stay petition. The appellant produced a computation table which shows that the tax demanded is Rs. 34,12,174/- and interest on tax is Rs. 27,86,838/- and the total tax and interest is Rs. 61,99,012/-, whereas he has paid Rs. 15,71,293/-.
High Court disposed of the appeal holding that:– The Interest of Justice will be complied with by directing the appellant to deposit a further sum of Rs. 15,00,000/- in three equal installments, each installments should be paid within 15 days of every month. On such payment, the dismissal order passed by the Tribunal in the stay petition is set aside and there shall be an order of interim stay till the disposal of the Appeal before the Tribunal– SUNEEL HIRACHAND SHAH V/s ITO [2020] 271 TAXMAN 097 (MAD)