HC granted unconditional stay of demand; set-asides stay granted with condition to adjust demand with future refunds

INCOME TAX : A huge amount towards refund cannot be declined on ground that a demand is pending for previous year; Where Commissioner by impugned order stayed demand with condition to adjust future refunds against demand of Assessment year 2012-13, impugned order was set aside to extent it put a condition of adjustment of future demand arising to assessee and, thus, unconditional stay of demand was granted till final disposal of appeal pending before ITAT

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