AO can’t recover an amount in excess of 20% of tax to grant stay of demand without assigning reasons : HC

INCOME TAX : Where no order had been passed by Assessing Officer under section 245 for adjustments of refunds and moreover, there was no order by Assessing Officer giving any special/particular reason as to why any amount in excess of 20 per cent of outstanding demand should be recovered from assessee in accordance with paragraph 4(B) of office memorandum dated 29-2-2016,

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