Friday, February 28, 2020

No need to interfere in stay petition dismissed by lower authorities unless there was perversity in their approach

INCOME TAX : Where assessee sought a stay on collection/recovery of outstanding tax and interest in respect of demand created as a result of assessment under section 143(3) read with section 144C(13) and Commissioner (International Taxation) had already granted stay on collection of disputed demands till disposal of appeal on condition that assessee paid 30 per cent of demand, since authorities below had dealt with stay petitions of assessee in a reasonable manner and there was no perversity or

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...