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of <h1>Application for Penalty Recovery Rejected by ITAT; Assessee Failed to Seek Stay</h1> <h3>VIKAS PHARMACEUTICALS. Versus INCOME TAX OFFICER.</h3> The ITAT DELHI-B rejected the application for recovery of penalty amounts pending before the first appellate authority, stating that the authority has ... - The application for recovery of penalty amounts pending before the first appellate authority was rejected by the ITAT DELHI-B. The Tribunal stated that the first appellate authority has the jurisdiction to stay the recovery of penalty amounts, and the Tribunal would not interfere with that authority. The assessee did not approach the first appellate authority for staying the demand, so the application was rejected.
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