Stay of demand application could not be rejected without considering financial stringency & balance of convenience

INCOME TAX : Where Assessing Officer dismissed application for stay of recovery of demand filed by assessee on ground that mere filing of appeal against assessment order before Commissioner (Appeals) was not a valid reason for granting stay of demand, since evidently Assessing Officer had passed impugned order without considering aspects of existence of prima facie case, financial stringency and balance of convenience, impugned order was to be set aside

from www.taxmann.com Latest Case Laws https://ift.tt/36NyUGd