https://www.taxtmi.com/caselaws?id=777094 The HC held that prior ITAT orders finding no capital gains on conversion of godown are binding on Revenue and defeat the basis for reopening the assessment. Orders of higher appellate authorities must be followed unless stayed; the ITAT rulings were not suspended and therefore precluded the disputed demand. The impugned condition requiring payment of 20% of the assessed tax to obtain stay was quashed, and the taxpayer was entitled to an unconditional stay of the demand pending appeal. en-us Thu, 14 Aug 2025 00:00:00 +0530 Sat, 23 Aug 2025 08:31:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777094 The HC held that prior ITAT orders finding no capital gains on conversion of godown are binding on Revenue and defeat the basis for reopening the assessment. Orders of higher appellate authorities must be followed unless stayed; the ITAT rulings were not suspended and therefore precluded the disputed demand. The impugned condition requiring payment of 20% of the assessed tax to obtain stay was quashed, and the taxpayer was entitled to an unconditional stay of the demand pending appeal. Case-Laws Income Tax Thu, 14 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777094