https://www.taxtmi.com/caselaws?id=314550 ITAT Bangalore granted conditional stay of outstanding demand of Rs.2193,90,42,357/- for assessment year 2018-19. The Tribunal held that while section 254(2A) mandates 20% deposit for stay, revenue's interest was already secured through existing attachments of Rs.5551 crores by Enforcement Directorate and Income Tax authorities. Stay granted for 180 days without additional deposit, subject to condition that if attachments are vacated, assessee must deposit 20% within two weeks. Appeal posted for hearing on specified date. en-us Mon, 08 Apr 2024 00:00:00 +0530 Wed, 19 Jun 2024 08:34:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314550 ITAT Bangalore granted conditional stay of outstanding demand of Rs.2193,90,42,357/- for assessment year 2018-19. The Tribunal held that while section 254(2A) mandates 20% deposit for stay, revenue's interest was already secured through existing attachments of Rs.5551 crores by Enforcement Directorate and Income Tax authorities. Stay granted for 180 days without additional deposit, subject to condition that if attachments are vacated, assessee must deposit 20% within two weeks. Appeal posted for hearing on specified date. Case-Laws Income Tax Mon, 08 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314550