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In the light of the above, the Writ Petitions are disposed in the following terms: i) The petitioner will appear before the Principal Commissioner of Income Tax, the first respondent herein, on 05.03.2019 at 10:30 am along with a stay petition covering three (3) aspects as referred to aforesaid. ii) After hearing the petitioner, the Principal Commissioner of Income Tax shall pass appropriate orders in accordance with law within a period of two (2) weeks from the date of conclusion of the personal hearing. iii) Till the disposal of stay petitions, status quo, as of today, shall be maintained with regard to recovery.

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Sec. 220 of Income Tax Act, 1961 — Recovery of Tax — The parameters to be taken into account in considering the grant of stay of disputed demand are well settled. The existence of a prima facie case, financial stringency and the balance of convenience. 'Financial stringency' would include within its ambit the question of 'irreparable in jury' and 'undue hardship' as well. It is only upon an application of the three factors as aforesaid that the assessing officer can exercise discretion for the grant or rejection, wholly or in part, of a request for stay of disputed demand—  Jayanthi Seeman vs. Pr. CIT [2020] 421 ITR 320 (MAD)

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