Rayalaseema Steel Re-Rolling Mills Pvt. Ltd., v. Principal Commissioner Of Income Tax-3,

THE HON'BLE SRI JUSTICE RAMESH RANGANATHAN AND THE 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 of the petitioner, and Sri T.Vinod Kumar, learned Senior Standing Counsel for the Income Tax Department, would agree that, in case the petitioner were 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/-) on or before the 10t h of each month, the Commissioner of Income Tax (Appeals) may be directed to dispose of the appeal filed by the petitioner against the order passed by the second respondent. As the parties are in agreement, we consider it appropriate to dispose of the Writ Petition itself directing the petitioner to pay Rs.

25,00,000/- (rupees twenty five lakhs only) each month on or before the 10th of the month, for the months of January, February and March, 2016. The first respondent shall hear and decide the appeal with utmost expedition, in any event on or before 31st March, 2016. In view of the order now passed by this Court, the order of attachment shall stand raised. In the event the petitioner defaults in payment of any of the three monthly instalments, as referred to hereinabove, it shall be open to the respondents to proceed against the petitioner, and recover the entire tax dues, in accordance with law. The Writ Petition is, accordingly, disposed of. There shall be no order as to costs. Miscellaneous petitions, if any, pending shall stand closed.

______________________________ RAMESH RANGANATHAN, J

___________________________________ M. SATYANARAYANA MURTHY, J 22nd December, 2015 Tsy