TaxTMI 
TaxTMI 
TaxTMI 
The A.O. has given order u/s 143(3) , and raised demand of Rs. 10 lacs . The assessee is going for appeal with CIT (Appeals). Whether demand of Rs. 10 lacs can be kept in abeyance till the disposal of appeal ? What is the procedure for stay of demand.
stay of demand
satbir singhwahi
Taxpayer Challenges Rs. 10 Lakh Demand Under Section 143(3), Seeks Stay During Appeal Process An assessing officer issued an order under section 143(3), raising a demand of Rs. 10 lakhs. The taxpayer plans to appeal to the Commissioner of Income Tax (Appeals) and inquires if the demand can be stayed until the appeal is resolved. The response suggests submitting an application for a stay to the assessing officer, CIT(A), or a higher authority to pause recovery proceedings. If the stay is not granted, the revenue authorities may proceed with recovery actions. (AI Summary)