Penalty Order Stayed by Bombay HC under Income Tax Act

The Bombay HC stayed the operation of a penalty order under section 271(1)(c) of the Income Tax Act, 1961. The appeal was admitted, and a substantial question of law was framed. The applicant paid the penalty, and no pending demand existed. The court deemed it appropriate to stay the order pending appeal.

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The Bombay High Court stayed the operation of an impugned order dated 3rd August, 2016 related to a penalty under section 271(1)(c) of the Income Tax Act, 1961. The appeal has been admitted and a substantial question of law has been framed. The applicant has paid the penalty amount, and no demand is pending against the assessee. The court deemed it appropriate to stay the operation of the impugned order pending the appeal.

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