Stay of demand - attachments placed on the petitioner's bank ...
Income Tax
January 4, 2024
Stay of demand - attachments placed on the petitioner's bank accounts in relation to the outstanding demand - Department had already collected around 30% of the tax liability. In terms of the provisions of the Act, if 20% of the tax liability is paid to the Department, the Assessee will be automatically entitled for stay of recovery proceedings, which were initiated against him. - Attachment order vacated - HC
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