https://www.taxtmi.com/caselaws?id=247476 The High Court modified the condition for an interim stay against the recovery of tax demand, reducing the deposit amount from Rs. 124 Crores to Rs. 50 Crores for a State-owned Corporation dealing in petroleum products. The disputed additions of approximately Rs. 498 Crores, including an excess stock of gas and conversion ratio discrepancies, were addressed, with the Court finding around Rs. 140 Crores representing unaccounted excess gas sales. The Court directed the CIT [A] to independently decide the issues without expressing a final opinion on the merits of the additions or arguments presented. en-us Mon, 05 May 2014 00:00:00 +0530 Tue, 13 May 2014 08:58:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247476 The High Court modified the condition for an interim stay against the recovery of tax demand, reducing the deposit amount from Rs. 124 Crores to Rs. 50 Crores for a State-owned Corporation dealing in petroleum products. The disputed additions of approximately Rs. 498 Crores, including an excess stock of gas and conversion ratio discrepancies, were addressed, with the Court finding around Rs. 140 Crores representing unaccounted excess gas sales. The Court directed the CIT [A] to independently decide the issues without expressing a final opinion on the merits of the additions or arguments presented. Case-Laws Income Tax Mon, 05 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247476