1 IN THE HIGH COURT OF BOMBAY AT GOA WRIT PETITION NO. 171 OF 2009 Salgaocar Mining Industries Pvt. Ltd., a Private Limited Company, incorporated under the Companies Act, 1956 (Act 1 of 1956), having its registered office at Salgaocar Chambers, P.O. Box No. 35, Margao-Goa, represented herein by its Director, Shri Arjun A. Salgaocar, of major age, Indian National, resident of Panaji-Goa. ... Petitioner V/s 1. The Commissioner of Income Tax (Appeals), O/O Commissioner of Income Tax (Appeals), Panaji-Goa. 2. The Additional Commissioner of Income Tax, Margao Range, Margao-Goa. 3. The Assistant Commissioner of Income Tax, Circle 1, Margao, Goa. ... Respondents Mr. Poras Kaka and Mr. M.S. Sonak, Advocate for the Petitioner. Mr. S.R. Rivonkar, Advocate for the Respondent. CORAM : F.I. REBELLO & U.D. SALVI, JJ. DATE : 21 st MARCH, 2009 ORAL JUDGMENT : Rule. Heard forthwith. 2. It is not necessary to set out the facts in detail, considering the order to be passed. Revenue has made a demand on the Assessee in the sum of Rs.5 2 crores and odd. Against that demand, an appeal has been preferred before CIT(A). The Assessee had applied for stay before the AO which has been rejected and, consequently, the present petition. 3. At the hearing of this petition, considering the facts and circumstances, the matter has been worked out in terms of the following order; (i) The Assessee, without prejudice to their contention, will deposit a sum of Rs.1 crore with the AO within 4 days of the accounts of the Assessee petitioner being defreezed. (ii) The appeal pending before CIT(A), the CIT(A) is directed to hear the same expeditiously, after giving due opportunity to the appellant. (iii)We make it clear that within 4 days of the accounts being defreezed, if the amount is not deposited, it will be open to the AO to take further steps in the matter. Till such time that the appeal is disposed of, and, for a further period of 4 weeks thereafter, the AO not to take any steps against the Assessee. The balance demand is stayed till the disposal and final hearing by CIT(A). 4. On behalf of the Revenue, learned Counsel, after taking instructions, makes a statement that the accounts will be defreezed by 5.00 p.m. on or before 23/03/2009. 3 5. Rule made absolute accordingly, and, the petition disposed of with no order as to costs. All parties to act on the authenticated copy. F.I. REBELLO, J. U.D. SALVI, J. NH/-