https://www.taxtmi.com/caselaws?id=430838 The Court quashed the dismissal of the stay application under Section 220(6) of the Income Tax Act, noting that the pre-condition of depositing 20% of the total demand was not mandated by the Act. The reliance on an Office Memorandum for determining the disputed demand was found flawed, and the Court directed the restoration of the stay petition to the Assessing Officer for reevaluation without imposing any costs. The judgment emphasized the importance of considering various factors in granting stays in income tax matters rather than rigidly applying pre-conditions. en-us Mon, 07 Nov 2022 00:00:00 +0530 Tue, 29 Nov 2022 09:15:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430838 The Court quashed the dismissal of the stay application under Section 220(6) of the Income Tax Act, noting that the pre-condition of depositing 20% of the total demand was not mandated by the Act. The reliance on an Office Memorandum for determining the disputed demand was found flawed, and the Court directed the restoration of the stay petition to the Assessing Officer for reevaluation without imposing any costs. The judgment emphasized the importance of considering various factors in granting stays in income tax matters rather than rigidly applying pre-conditions. Case-Laws Income Tax Mon, 07 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430838