HC stayed proceedings initiated for non-deduction of TDS as assessee maintained huge sum in Escrow a/c

INCOME TAX: Where in course of appellate proceedings against order holding assessee liable to deduct tax under section 195, department issued notices under sections 201(1) and 201(1A), in view of fact that assessee had kept a sum of Rs. 10 Million US Dollars in escrow account which would be by and large sufficient to meet with its TDS requirement if ultimately so arose, notices issued to assessee under sections 201 and 201(1A) would stand stayed during pendency of proceedings

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