Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
The ITAT held that a stay of demand can only be granted u/s 254(2A) subject to deposit of 20% of disputed demand or furnishing security. The Tribunal cannot violate statutory provisions. The power to grant stay u/s 254(2A) must be read with 254(1) to avoid redundancy. A conditional stay may be granted even when issues are covered by judicial precedents in favor of the assessee. In this case, with a large attachment in place, no further payment is required. If the attachment is lifted, the assessee must deposit 20% of the outstanding liability. The assessee must cooperate and not delay the appeal process. The stay order is valid for 180 days or until appeal disposal, with no unnecessary adjournments allowed.
The ITAT held that a stay of demand can only be granted u/s 254(2A) subject to deposit of 20% of disputed demand or furnishing security. The Tribunal cannot violate statutory provisions. The power to grant stay u/s 254(2A) must be read with 254(1) to avoid redundancy. A conditional stay may be granted even when issues are covered by judicial precedents in favor of the assessee. In this case, with a large attachment in place, no further payment is required. If the attachment is lifted, the assessee must deposit 20% of the outstanding liability. The assessee must cooperate and not delay the appeal process. The stay order is valid for 180 days or until appeal disposal, with no unnecessary adjournments allowed.
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