https://www.taxtmi.com/caselaws?id=393886 The court set aside the stay order issued by the Principal Commissioner of Income Tax, directing the petitioner to pay 20% of the disputed demand in installments. The court emphasized the necessity of granting a hearing opportunity and passing a speaking order considering financial stringency and prima facie case. It criticized the assessing officer for not following the CBDT Circulars and Instructions, leading to the impugned order being overturned. The petitioner was instructed to appear before the Commissioner with relevant materials for a new decision within four weeks, halting recovery proceedings in the meantime. en-us Thu, 12 Mar 2020 00:00:00 +0530 Tue, 24 Mar 2020 12:51:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393886 The court set aside the stay order issued by the Principal Commissioner of Income Tax, directing the petitioner to pay 20% of the disputed demand in installments. The court emphasized the necessity of granting a hearing opportunity and passing a speaking order considering financial stringency and prima facie case. It criticized the assessing officer for not following the CBDT Circulars and Instructions, leading to the impugned order being overturned. The petitioner was instructed to appear before the Commissioner with relevant materials for a new decision within four weeks, halting recovery proceedings in the meantime. Case-Laws Income Tax Thu, 12 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393886