JUDGMENT

Manmohan, J. - Present writ petition has been filed challenging the orders dated 28th February, 2022 and 14th March, 2022 passed by the Respondents whereby the stay application filed by the Petitioner had been disposed of. It is pertinent to mention that the disputed demand of Rs.42,40,72,259/-has arisen from an order dated 08th December, 2021 passed under section 201(1)/201(1a) of the Income Tax act, 1961 ('act') wherein the Petitioner was held to be an assessee in default for failure to deduct tax at source while making interest payments to China Development Bank ('CDB').

2. Vide the impugned Orders dated 28th February, 2022 and 14th March, 2022, the Petitioner was granted stay till the disposal of the first appeal subject to payment twenty percent of the total demand i.e. Rs.8,48,14,452/in accordance with the condition stipulated in Clause (B) of Office Memorandum dated 29th February, 2016.

3. Learned Counsel for the Petitioner submits that the order dated 08th December, 2021 passed under section 201(1)/201(1a) of the act in itself is manifestly against the plain language of law and was passed without following the principles of natural justice. He further states that th