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2018 (3) TMI 1087 - HC - Income TaxStay of demand - Penalty u/s 271(1)(c) - Held that:- Referring to Office Memorandum dated 31.07.2017 in which it has been stated that where the outstanding demand was disputed before the Appellate Authority, the assessing officer shall grant stay of demand till the disposal of the first appeal on payment of 20% of the disputed demand. In this case, a simple arithmetic calculation would show that more than 20% of the disputed demand has already been recovered and adjusted by the Department. In view of the same, the impugned notices shall be kept in abeyance and it shall abide by the outcome of the appeals filed by the petitioner herein.
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