- (1.) The instant writ petition has been filed challenging the dismissal of the stay application filed by the petitioner as against the assessment order dated 29.12.2018 passed by the third respondent for the Assessment year 2011-12 which resulted in the demand of Rs.1,91,31,620/- against the petitioner.
(2.) The learned senior counsel appearing for the petitioner submitted that the first respondent has rejected the stay application solely on the ground that the petitioner has not made the pre-deposit of 20% of the demanded amount as per the CBDT's modified guidelines for the Stay of Demand vide Instruction No.1914 dated 29.02.2016.
(3.) Heard Mr.M.Ajmal Khan, learned senior counsel appearing for the petitioner and Mrs.S.Srimathy, learned Additional Government Pleader appearing for the respondents.;