JUDGMENT :

Jitendra Jain, J.

1. Heard learned counsel for the parties.

2. Rule. The Rule is made returnable immediately at the request of and with the consent of the learned counsel for the parties.

3. This petition is filed challenging the recovery of more than 20% of the tax demand for assessment year 2015-2016 from the Petitioner.

4. The Petitioner is an individual and has filed his return of income on 28 September 2015 returning income of Rs.56,65,660/-. The said return of income was selected for scrutiny assessment and on 20 December 2017 an assessment order came to be passed under Section 143(3) of the Income Tax Act, 1961 (“the Act”) assessing income at Rs.1,11,85,520/- and a demand of Rs.37,91,550/- was made.

5. The Petitioner filed stay application for assessment year 2015-2016 before the Assessing Officer requesting for stay of the demand raised vide order dated 20 December 2017. It is important to note thatprior to making this application for stay, the Petitioner voluntarily had already deposited 20% of the demand which worked out to Rs.7,58,310/-.

6. On 6 October 2022, an intimation under Section 143(1) of the Act was issued processing return for assessment year 2022-2023 and