Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2020 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (5) TMI 527 - KARNATAKA HIGH COURTStay petition - stay would be conditional on payment of 20% of the disputed demand - HELD THAT:- The question of intervening as regards to the assessment order at this stage is not appropriate. However, as regards the contention that the consideration of application for stay and further exercise of power of the PCIT keeping in mind the circular bearing No.1914 as amended on 21.5.2017, 29.2.2016 and 31.7.2017, the request of the petitioner is to be considered in a meaningful manner. In fact, the power of granting stay has been considered by the High Court of Judicature at Madras in the case of M/s. Shriram Finance [2019 (3) TMI 1478 - MADRAS HIGH COURT] wherein, certain guidelines have been referred which may be taken note of. So also the manner of exercise of power of the Principal Commissioner of Income Tax is detailed in Flipkart’s case [2017 (3) TMI 802 - KARNATAKA HIGH COURT] which needs to be kept in mind. This Court refrains from expressing any opinion on the merits of contentions raised, but reiterates that the PCIT is to exercise power conferred upon him as per the circulars in a meaningful manner.
|