https://www.taxtmi.com/caselaws?id=65527 The Tribunal granted a conditional stay of recovery of the outstanding demand for assessment year 2003-04, amounting to Rs. 5,09,35,197. The demand arose from adjustments in international transactions, increasing the declared income by Rs. 56.70 crores. The petitioner's request for stay was supported by arguments regarding incorrect application of provisions under the IT Act, potentially reducing the demand significantly. Despite opposition from the Revenue, citing confirmed demand and public interest, the Tribunal found merit in the petitioner's case and imposed conditions for the stay, including a partial payment and guarantee requirement pending a Special Bench decision. en-us Thu, 22 Mar 2007 00:00:00 +0530 Thu, 26 Jul 2012 13:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65527 The Tribunal granted a conditional stay of recovery of the outstanding demand for assessment year 2003-04, amounting to Rs. 5,09,35,197. The demand arose from adjustments in international transactions, increasing the declared income by Rs. 56.70 crores. The petitioner's request for stay was supported by arguments regarding incorrect application of provisions under the IT Act, potentially reducing the demand significantly. Despite opposition from the Revenue, citing confirmed demand and public interest, the Tribunal found merit in the petitioner's case and imposed conditions for the stay, including a partial payment and guarantee requirement pending a Special Bench decision. Case-Laws Income Tax Thu, 22 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65527