JUDGMENT :

1. This writ petition under Article 226 of the Constitution of India is filed by the petitioner challenging the order dated 03.03.2023 passed by respondent No.1-PCIT, Jaipur, whereby application filed by the petitioner seeking stay of recovery of demand pertaining to assessment years 2014-15, 2016-17 and 2020-21 has been disposed of in the following manner :

"The petition is disposed off subject to following stipulation(s):-

1. The Outstanding aggregate demand of Rs.25,12,77,982/- to be stayed till disposal of 1st appeal only upon payment of 20% of demand as per above schedule.

2. The applicant is directed to make payment as per the above schedule.

3. The assessee shall co-operate in early disposal of the appeal pending before the Ld. CIT(A).

4. Revenue retains the right to reconsider/review the payment plans/ stipulations as well as the stay order anytime in case of any exigency or administrative requirement or to safeguard the interests of revenue.

5. This order does not confer any legal right to the assessee. No finding or adjudication on assessee's pending matters can be inferred from this order. The assessee shall not act in any manner that may cause prejudice to interests of revenue. The assessee's contentions/assertions raised before the undersigned remain unsubstantiated.

6. Interest shall be payable by the taxpayer, as per law (irrespective of the stay or instalments granted).

7. The order is subject to stipulations as laid down in the CBDT office Memorandum F. No. 404/72/93-ITCC dated 29.02.2016 read with Instruction No.1914 dated 21.03.1996.

8. The assessing officer shall ensure/monitor the payment of tax dues as above."

2. Brief facts of the case are that a survey under Section 133A of the Income Tax Act, 1961 (hereinafter to be referred as ‘the I.T. Act’) was carried out at the premises of petitioner on 04.03.2020. On the basis of survey report, the assessments for the years 2014-15 and 2016-17 were reopened by issuing notice under Section 148 of the I.T. Act dated 24.03.2021 and 26.03.2021 respectively. Assessment for the year 2020-21 was selected for scrutiny under Section 143(2) of the I.T. Act by issuing notice dated 28.06.2021. The Assessing Authority thereafter passed the assessment orders dated 07.03.2022 for the assessment year 2014-15 and 2016-17 and the order dated 21.11.2022 for the assessment year 2020-21.

3. Aggrieved by the aforementioned assessment orders, the petitioner preferred an appeal before the Appellate Authority and the same is pending consideration.

4. It is to be noticed that against the original return for the assessment year 2014-15 i.e. Rs.8,04,690/-, the Assessment Officer assessed the income of the petitioner as Rs.1,22,93,066/-, whereas against the original return for the assessment year 201617 i.e. Rs.10,30,940/-, the Assessment Officer assessed the income of the petitioner as Rs.1,64,73,499/-. It is also to be noticed that for the assessment year 2020-21 against the original return of Rs.2,19,09,920/-, the Assessment Officer assessed the income of the petitioner as Rs.24,19,85,720/-. As such a demand of more than Rs.25 crores has been raised against the petitioner.

5. As per the petitioner, the Appellate Authority is not empowered to grant stay on recovery and, therefore, the petitioner filed an application seeking stay on the said demand before the Assessment Officer, however, the Assessment Officer has not taken any decision on the stay application filed by the petitioner, then he filed a stay application before the respondent No.1 in terms of instruction No.1914 issued by the Income Tax Department vide order dated 21.03.1996 as modified by office memorandum dated 29.02.2016 and 31.07.2017.

6. It is also claimed by the petitioner that since the demand raised by the revenue is high-pitch demand, the same is required to be stayed till the disposal of the appeal by the Appellate Authority.

7. It is averred in the petition that the respondent No.1 while passing the impugned order has fai