| |
| The Tax Publishers2020 TaxPub(DT) 2762 (Ker-HC) INCOME TAX ACT, 1961
Section 220
Where assessee was ready to pay an amount of Rs. 25,00,000, against demand order pending disposal of appeals by Appellate Authority and also considering business of assessee came under lockdown due to corona pandemic, stay of recovery was granted to assessee till disposal of appeal subject to payment of aforesaid amount.
|
Recovery - Stay of demand - Substantial amount agreed by assessee to be paid while appeal was pending for disposal -
During pendency of appeal, assessee approached AO in terms of section 220(6), who requiring assessee to pay 20% of disputed demand pending disposal of appeals. On an application preferred before PCIT, amount was reduced to 15% of disputed demand. Assessee sought complete stay of recovery proceedings pending disposal of appeals. Held: Assessee was ready to pay an amount of Rs. 25,00,000, against demand order pending disposal of appeals by Appellate Authority. Taking note of peculiar situation that existed during pandemic period when petitioner's business came under a lockdown, writ petition was disposed by directing appellate authority to consider and pass orders on same, within six months. On assessee paying an amount of Rs. 25,00,000 within two months, there shall be a stay of recovery of balance amounts confirmed against assessee.
REFERRED :
FAVOUR : Partly in assessee's favour
A.Y. :
 SUBSCRIBE FOR FULL CONTENT
|