THE HON’BLE THE CHIEF JUSTICE SRI APARESH KUMAR SINGH AND THE HON’BLE SRI JUSTICE G.M.MOHIUDDIN Writ Petition No.23594 of 2025

Order

:

Heard Mr. Vikram Pooserla, learned Senior Counsel appearing for Ms. K. Manasa, learned counsel for the petitioner and Mr. K.Sudhakar Reddy, learned Senior Standing Counsel for Income Tax Department appearing for the respondents/revenue.

2. For the assessment year 2022-2023, the petitioner- company filed its return as NIL. Faceless assessment was conducted under Section 143(3) read with Section 144B of the Income Tax Act, 1961 (for short ‘the 1961 Act’) assessing the total income of the petitioner as Rs.62,57,82,042/-. By order dated 22.03.2024, a demand of Rs.60,48,85,080/- was raised. The petitioner-company has filed an appeal before the National Faceless Appeal Centre, Delhi, on 17.04.2024. Petitioner- company has also filed a petition for stay of payment of demand till disposal of the appeal before respondent No.2- Principal Commissioner of Income Tax-IV (for short ‘PCIT’), on 13.06.2024. The PCIT, by order dated 25.10.2024, permitted payment of the impugned demand through instalments of Rs.5 crores per month starting from November, 2024, till disp