- (1.) The concerned assessment year is 2011-12. There is a demand from the Income-tax Department upon the assessee-writ petitioner for a sum of Rs. 12,11,86,487. Against the assessment order in question, the assessee's appeal before the Commissioner of Income-tax (Appeals) is pending.
(2.) By an order dated July 17, 2014, passed under section 220(6) of the Income-tax Act, 1961, the assessee was required to pay 50 per cent of the total demand in the following manner:
(3.) Rs. 2.10 crores, i.e., 10 per cent of the above demand immediately and the balance 40 per cent, i.e., Rs. 8.40 crores in six monthly installments of Rs. 1.40 crores each, starting from the end of July, 2014.;