https://www.taxtmi.com/caselaws?id=393654 The High Court held in favor of the petitioner, an association of persons running a co-operative credit society, in a case challenging the rejection of their application for stay of demand under Section 80P(2)(a)(i) of the Income Tax Act, 1961. The Court found that the assessing officers did not consider previous favorable decisions by higher authorities and emphasized the importance of judicial discipline. The Court granted a stay on the demand until the appeal is decided by the first appellate authority, criticizing respondent Nos.1 and 2 for insisting on payment of 20% of the demand without sufficient justification. en-us Fri, 13 Mar 2020 00:00:00 +0530 Fri, 20 Mar 2020 15:15:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393654 The High Court held in favor of the petitioner, an association of persons running a co-operative credit society, in a case challenging the rejection of their application for stay of demand under Section 80P(2)(a)(i) of the Income Tax Act, 1961. The Court found that the assessing officers did not consider previous favorable decisions by higher authorities and emphasized the importance of judicial discipline. The Court granted a stay on the demand until the appeal is decided by the first appellate authority, criticizing respondent Nos.1 and 2 for insisting on payment of 20% of the demand without sufficient justification. Case-Laws Income Tax Fri, 13 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393654