https://www.taxtmi.com/caselaws?id=252831 CBDT stay guidelines were treated as binding on assessing authorities when considering stay of tax demand pending appeal. Because conflicting High Court decisions existed and the jurisdictional High Court had not adopted the Department's view, a prima facie case was found in favour of the petitioner. The balance of convenience also favoured stay, as the assessee was a co-operative society regulated under co-operative law and was not shown to be carrying on banking business with a banking licence. Severe financial hardship and irreparable prejudice supported interim protection, and collection of the demand was stayed until disposal of the appeal. en-us Tue, 28 Oct 2014 00:00:00 +0530 Wed, 05 Nov 2014 06:26:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252831 CBDT stay guidelines were treated as binding on assessing authorities when considering stay of tax demand pending appeal. Because conflicting High Court decisions existed and the jurisdictional High Court had not adopted the Department's view, a prima facie case was found in favour of the petitioner. The balance of convenience also favoured stay, as the assessee was a co-operative society regulated under co-operative law and was not shown to be carrying on banking business with a banking licence. Severe financial hardship and irreparable prejudice supported interim protection, and collection of the demand was stayed until disposal of the appeal. Case-Laws Income Tax Tue, 28 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252831