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The petitioner is a Trust that manages a school, affiliated to the State Matriculation Board. Assessments under Section 153A of the Act were made on 26.12.2018, pursuant to search and seizure action under Section 132 of the Act conducted on 25.04.2016. Several assets were seized including cash and gold coins as well as rough note books. Appeals have been filed before the Commissioner of Income Tax (Appeals), challenging the aforesaid assessments, dated 26.12.2018, and the same are pending.

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Section 220 of the Income Tax Act, 1961 — Collection and Recovery of tax — Assessee had already paid Rs. 3.75 crores out of total tax demand of Rs. 59.67 crores. assessee's stay application was to be disposed of with a direction to pay a further sum of Rs. 1.25 crores and provide one immovable property as a security till disposal of Appeal — Uthangarai Sri Vidya Mandir Educational Society Welfare Trust vs. Principal Commissioner of income tax [2019] 267 Taxman 344 (Madras)

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