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of <h1>High Court affirms Tribunal's stay of demand beyond 365 days, citing precedent. Appeal dismissed.</h1> The High Court Bombay upheld the Income-tax Appellate Tribunal's decision to grant a stay of outstanding demand beyond 365 days, citing a previous court ... Power of Tribunal - Income-tax Appellate Tribunal holding that the case of the assessee is fit case for stay of outstanding demand beyond the period of 365 days - The Tribunal has allowed the claim of the assessee by following the decision of this court in the case of Narang Overseas P. Ltd. v. ITAT. The High Court Bombay upheld the Income-tax Appellate Tribunal's decision to grant a stay of outstanding demand beyond 365 days, citing a previous court ruling. The appeal was dismissed with no costs. (2010 (11) TMI 461 - Bombay High Court)
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