CBDT issues Revised Guidelines for stay of demand at the First Appeal Stage; Decision of the Board to provide significant relief to the taxpayers in matters relating to grant of stay and recovery of demand by reducing arbitrariness in the disposal of stay petitions where the tax demand is contested at the First Appellate stage

CBDT issues Revised Guidelines for stay of demand at the First Appeal Stage; Decision of the Board to provide significant relief to the taxpayers in matters relating to grant of stay and recovery of demand by reducing arbitrariness in the disposal of stay petitions where the tax demand is contested at the First Appellate stage https://www.taxtmi.com/news?id=15834 The CBDT prescribes that an assessing officer shall grant a stay of disputed tax demand pending the first appeal on payment of a standardized lump sum pre deposit; deviations from the standard pre payment must be referred to the administrative Principal Commissioner or Commissioner to decide the quantum, and an assessee aggrieved by a stay granted on the standard pre payment may seek review by the jurisdictional administrative Principal Commissioner or Commissioner. en-us Thu, 03 Mar 2016 18:52:14 +0530 Thu, 03 Mar 2016 18:52:14 +0530 TaxTMI RSS Generator CBDT issues Revised Guidelines for stay of demand at the First Appeal Stage; Decision of the Board to provide significant relief to the taxpayers in matters relating to grant of stay and recovery of demand by reducing arbitrariness in the disposal of stay petitions where the tax demand is contested at the First Appellate stage https://www.taxtmi.com/news?id=15834 The CBDT prescribes that an assessing officer shall grant a stay of disputed tax demand pending the first appeal on payment of a standardized lump sum pre deposit; deviations from the standard pre payment must be referred to the administrative Principal Commissioner or Commissioner to decide the quantum, and an assessee aggrieved by a stay granted on the standard pre payment may seek review by the jurisdictional administrative Principal Commissioner or Commissioner. News - Thu, 03 Mar 2016 18:52:14 +0530 https://www.taxtmi.com/news?id=15834