Madras HC granted interim stay on demand subject to deposit of further sum by assessee

INCOME TAX: Where Assessing Officer had disallowed assessee's claim for exemption under section 10(38) and raised demand of Rs. 61.99 lakhs and Appellate Commissioner confirmed impugned order and Tribunal, on further appeal, dismissed stay petition of assessee, since assessee had already deposited a sum of Rs. 15.71 lakhs out of demand of Rs. 61.99 lakhs, he was to be directed to deposit a further sum of Rs. 15 lakhs and on such deposit there shall be an order of interim stay

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