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2016 (12) TMI 1199 - HC - Income TaxStay of demand - Held that:- Considering the fact that with respect to earlier assessment years, on the very issue, when the assessee had succeeded at the first appellate stage [and according to the petitioner assessee upto the High Court], we are of the opinion that the office memorandum dated 29th February 2016 shall not be applicable to the facts of the present case. Considering the aforesaid facts and circumstances, the learned Principal Commissioner of Income-tax ought to have granted unconditional stay of the demand during pendency and final disposal of the appeal before CIT [A]. In view of the above and for the reasons aforestated, the present petition succeeds. The impugned order passed by the learned Principal Commissioner of Income-tax directing the petitionerassessee to deposit 15% of the demand and on such deposit, to stay further demand during the pendency of the appeal before the learned CIT [A], is hereby quashed and set-aside.
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