https://www.taxtmi.com/highlights?id=75795 Requirement of 20% Deposit of Disputed Demand for Considering Stay Application - The High court clarified that the OMs do not mandate a 20% deposit as a precondition for granting stay against demand recovery. It was held that such an interpretation is misconceived and that the discretion to require a deposit, either more or less than 20%, depends on the facts of each case. The court directed the respondents to consider the petitioner's application for stay under Section 220(6) without the presumption of a mandatory 20% deposit. en-us Mon, 18 Mar 2024 07:53:30 +0530 Mon, 18 Mar 2024 07:53:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=75795 Requirement of 20% Deposit of Disputed Demand for Considering Stay Application - The High court clarified that the OMs do not mandate a 20% deposit as a precondition for granting stay against demand recovery. It was held that such an interpretation is misconceived and that the discretion to require a deposit, either more or less than 20%, depends on the facts of each case. The court directed the respondents to consider the petitioner's application for stay under Section 220(6) without the presumption of a mandatory 20% deposit. Highlights Income Tax Mon, 18 Mar 2024 07:53:30 +0530 https://www.taxtmi.com/highlights?id=75795