https://www.taxtmi.com/caselaws?id=284315 ITAT Delhi granted interim stay of the outstanding tax demand pending disposal of the reference application, finding the case suitable for protection on the facts presented. The Tribunal considered that the demand arose from rectification of assessment, that the assessee had already pursued further statutory remedies, and that recovery had caused financial hardship, including bank account attachment. It also took note of the company's consideration before BIFR. The stay was made conditional on the assessee not seeking adjournments that would delay the hearing of the reference application. en-us Fri, 29 Mar 1996 00:00:00 +0530 Mon, 11 Nov 2019 18:09:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284315 ITAT Delhi granted interim stay of the outstanding tax demand pending disposal of the reference application, finding the case suitable for protection on the facts presented. The Tribunal considered that the demand arose from rectification of assessment, that the assessee had already pursued further statutory remedies, and that recovery had caused financial hardship, including bank account attachment. It also took note of the company's consideration before BIFR. The stay was made conditional on the assessee not seeking adjournments that would delay the hearing of the reference application. Case-Laws Income Tax Fri, 29 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284315